Ontario Mortgages: Flexible Financing

Private Mortgages

When banks say “no,” private mortgages can say “yes.” Funded by individuals, companies, or investors, they offer fast, flexible financing for homeowners, investors, and self-employed borrowers. Lenders focus on property equity rather than perfect credit or traditional income, making these mortgages ideal for short-term funding, renovations, or bridging financial gaps. Typical rates range from 8%–15%, often interest-only for 1-year terms, with fees of 2–5%.

Second Mortgages

A second mortgage allows you to access your home’s equity without refinancing your existing mortgage. In Ontario, you can borrow up to 80–85% of your home’s value minus your first mortgage balance. Common uses include debt consolidation, renovations, business investment, or quick funding. Options include lump-sum loans, HELOCs, or private second mortgages, with flexible approval for non-traditional income or imperfect credit.

Separation Mortgages

During a separation or divorce, a separation mortgage allows one partner to stay in the home, buy out the other, or restructure the mortgage under new ownership. Lenders look at income, credit, equity, and debt-to-income ratios. With proper legal and financial planning, these mortgages help homeowners maintain stability while fairly compensating the departing partner.

Bruised Credit Mortgages

A bruised credit mortgage helps Ontarians with imperfect credit regain financial footing. Designed for borrowers with late payments, defaults, or discharged bankruptcy, lenders consider equity, income stability, and down payment. Rates typically range from 7%–15% for short-term, interest-only terms. These mortgages act as a bridge, allowing homeowners to rebuild credit and eventually refinance into traditional financing.

How Mortio Financial Can Help

Mortio Financial guides Ontario homeowners through all these mortgage types, helping you:

• Compare lenders and rates

• Prepare documents efficiently

• Structure financing that fits your situation

• Plan for long-term stability and credit recovery

Whether you need flexible funding, equity access, or a mortgage tailored to your unique circumstances, Mortio Financial provides expert guidance to help you secure the right solution. With proper planning and professional support, even non-traditional borrowers can achieve their homeownership and financial goals.