Rate Sheet
Private Mortgage Rates in Ontario
Stonefield Capital is an Ontario private mortgage lender. Rates are priced by loan-to-value and position, not by credit score. First mortgages start at 6.24% and second mortgages start at 8.99%. These are the same figures we publish to our broker network.
Current Special
From: 5.49% + 2% Fee
for <60% LTV · Purchases Only · 680+ Beacon · 1st Mortgages
Ontario private mortgage rates by LTV
Updated July 27, 2026. Rates are annual; fees are a percentage of the loan amount.
| Loan-to-Value | 1st Mortgage | 2nd Mortgage |
|---|---|---|
| Below 50% | 6.24–7.99%+ 1.00–1.50% fee | 8.99–9.99%+ 1.50–2.00% fee |
| 50%-65% | 7.00–8.99%+ 1.00–1.50% fee | 9.99–10.99%+ 1.50–2.00% fee |
| 65%-70% | 8.50–9.99%+ 1.50–2.00% fee | 10.99–11.99%+ 1.50–2.00% fee |
Rates and fees shown are indicative, apply to residential property in Ontario, and are subject to change without notice. This is not a commitment to lend. Every mortgage is subject to underwriting, property assessment, and a clear exit.
Terms
1 to 12 months, interest-only in most cases. A private mortgage is a bridge to a longer-term solution, not a permanent one.
Usually no appraisal
We run our own comparable-sales analysis. When an appraisal is needed we say so in our first response, not at commitment.
Speed
Same-day commitments in most cases; funding in as little as 48 hours once legal counsel is ready.
Private mortgage rates: common questions
What are private mortgage rates in Ontario?
Private mortgage rates in Ontario are priced by loan-to-value (LTV) and position rather than by credit score. At Stonefield Capital, first mortgages start at 6.24% and second mortgages start at 8.99%, with a lender fee of 1% to 2% depending on the tier. Lower LTV means lower risk to the lender, so the rate drops as the LTV drops.
Why are private mortgage rates higher than bank rates?
Private mortgages are short-term, equity-based loans that fund situations banks decline: unverifiable income, bruised credit, a tight closing, or a property a lender considers non-standard. The rate reflects the speed, the flexibility, and the fact that the loan is underwritten on the equity and the exit rather than on income documentation. Private mortgages are typically a 1 to 12 month bridge to a longer-term solution, not a permanent mortgage.
What determines the rate on a private mortgage?
Loan-to-value is the primary driver: the more equity in the property, the lower the rate. Position matters next, since a second mortgage sits behind a first and carries more risk, so it prices higher. Property type and location also matter, because a home in a major urban centre is easier to sell than a rural or seasonal property. Credit score is not the primary factor in private lending.
What fees come with a private mortgage in Ontario?
Expect a lender fee, typically 1% to 2% of the loan amount, and legal fees. Stonefield usually does not require an appraisal because we run our own comparable-sales analysis, which saves the borrower the appraisal cost and several days. If an appraisal is required, we flag it in our initial response rather than at commitment.
How fast can a private mortgage close in Ontario?
Stonefield issues same-day commitments in most cases and can fund in as little as 48 hours once legal counsel is ready. In practice the bottleneck is legal preparation, not underwriting.
Have a deal to price?
Send it over and we will tell you quickly whether it works, including when the answer is no.
Stonefield Capital Inc. — FSRA Licence #13722 (mortgage brokerage). Stonefield Mortgage Administration Inc. — FSRA Licence #13636 (mortgage administrator). Serving Ontario.