M
Mark T.
★★★★★
Two banks declined me because I'm self-employed. Lighthouse approved me on equity alone and funded in 6 days. Kept the business cash flow running.
Approved on the equity in your home, not your paperwork. We shop 40+ private lenders to find the lowest rate you qualify for.
Why Private Mortgages Exist
Banks underwrite paperwork: T4s, debt ratios, credit history. That model works for the steady W-2 employee. For self-employed homeowners, retirees, or anyone with a recent credit ding, the bank's checklist often says no, even with strong equity. Private lenders take the other approach. If the equity covers the loan and the exit makes sense, the file works.
Banks underwrite paperwork. Private lenders underwrite your home equity.
Based on standard 80% combined loan-to-value (LTV). Your real number depends on appraisal, lender, and property type.
*Illustration only. Most private lenders allow 75–80% combined LTV; some go higher case-by-case. Final amount depends on appraised value, lender, property type, and exit strategy.
Most files are approved within 24 hours and funded in 5–7 business days. Urgent files (power-of-sale, hard closing dates) have funded in 24 hours. No income docs required.
A 3-step quiz. Home value, what you need, your contact. No credit hit. No income docs.
Licensed broker matches you to the lowest rate you actually qualify for. Approval typically within 24 hours.
We coordinate the lawyer and appraisal. Urgent files funded in as little as 24 hours. Standard files 5–7 days.
Same homeowner ($700K home, $400K first mortgage, bruised credit, self-employed, 30-day deadline) running each option.
| Feature | Bank refinance | Credit union | Consumer proposal | Lighthouse private mortgage |
|---|---|---|---|---|
| Approves with bruised credit / no income docs | ✕ | ✕ | ✓ | ✓ |
| Funded inside a 30-day deadline | ✕ | ✕ | ✕ | ✓ |
| Stops a power of sale | ✕ | ✕ | ✕ | ✓ |
| Qualifies on home equity, not income | ✕ | ✕ | ✕ | ✓ |
| Clears CRA arrears at closing | ✕ | ✕ | ✕ | ✓ |
| No public legal record | ✓ | ✓ | ✕ | ✓ |
*Illustrative. Real terms vary by file. All disclosures provided in writing 2 business days before signing per FSRA rules.
Private mortgage rates in Ontario typically range from 5.75% to 12% depending on LTV, property type, and credit. Way under the 19–29% of credit cards.
Bad credit, missed payments, consumer proposal, even discharged bankruptcy: none of it disqualifies you here. No minimum credit score.
Urgent files (power-of-sale, hard closing dates) have funded in under 24 hours. Standard files in 5–7 business days.
Self-employed, retired, commission-based, contractor, between jobs. No T4s, no Notice of Assessment, no grilling. Equity is the qualifier.
Private 1st, 2nd, HELOC, bridge loan, construction draw, debt consolidation, power-of-sale rescue. We compare and recommend the cheapest path.
Regulated Ontario brokerage (Lic. #13301) with a legal duty to act in your best interest. Federal law caps interest at 35% APR.
4.9/5 · 192+ reviews
Two banks declined me because I'm self-employed. Lighthouse approved me on equity alone and funded in 6 days. Kept the business cash flow running.
We had a power-of-sale notice with 18 days to figure something out. Lighthouse moved fast, funded in 7 days, and we kept the house.
CRA arrears were freezing every bank application. Lighthouse cleared the lien at closing and we're back on track. Honest people.
Retired with a fixed pension. The bank wouldn't even take the application despite $600K of equity. Lighthouse approved me in a day.
We needed bridge financing 9 days before closing on the new house. The bank quoted 3 weeks. Lighthouse funded in 5 days.
Renovation project mid-build. Bank pulled the draw. Lighthouse stepped in with a private 2nd, kept the trades paid, project finished.
Outcomes vary. Names abbreviated for privacy. Quotes paraphrased from Google reviews and case files. Your own quote, rate, and timeline depend on your situation.
We shop 70+ private lenders to find the best fit for your file. Not the fastest commission. The lender whose program actually works for you.
Your information stays between you, our brokerage, and the lender you select. We never sell, share, or rent your data. Ever.
The same licensed Ontario broker handles your file from first call to funded. No handoffs, no call-center transfers, no juggling.
Private-lender LTV caps shift with the housing market. Lenders that approved 80% LTV last year are quoting 75% on some property types today.
Your file is priced against today's appraisal value, today's lender appetite, and today's LTV caps. Locking in a quote now costs nothing and tells you exactly what's available.
A private mortgage is a loan secured against your home, funded by a private lender or MIC (mortgage investment corporation) instead of a bank. Banks underwrite paperwork (credit score, T4s, debt ratios). Private lenders underwrite equity. The house itself. That's why they say yes when banks say no.
Yes. This is most of what private lenders do. Bruised credit, collections, active consumer proposals, even discharged bankruptcies do not automatically disqualify you if you have sufficient equity. There's no minimum credit score for most private mortgage programs.
Most private lenders allow up to 80% combined loan-to-value (your existing mortgage + new private mortgage ÷ home value). Some go to 85% case-by-case. Example: an $800K home with a $400K first mortgage may unlock up to ~$240K through a private 2nd mortgage.
Not unless you stop paying. Same as your first mortgage. A private mortgage is secured by your home, but lenders avoid foreclosure (it costs them more than they recover). Our entire job is to structure a payment you can actually afford and a clear exit strategy, so default never becomes the conversation.
No. Most private mortgages are 1–2 year terms, a bridge to a better situation. The plan is usually: (1) use the funds to clear the immediate problem (CRA, debt, power of sale), (2) rebuild credit or stabilize income, (3) refinance back to a bank or B-lender rate at renewal. We map that exit on day one.
Approval typically within 24 hours. Urgent files (power of sale, hard closing date) have funded in as little as 24 hours. Standard files take 5–7 business days, mostly waiting on appraisal and legal. We will not lie to you about timing. We tell you the realistic window the moment we look at your file.
Detached, semi-detached, townhouses, condos, multi-unit residential (up to 4 units), and in many cases commercial or mixed-use properties with sufficient equity. Rural and unusual properties get assessed case-by-case.