Property fit
We check the asset type, location, condition, marketability, occupancy, and any title or zoning issues that may affect lender interest.
BC private mortgage hub
Private Mortgage Lenders in BC for Flexible Financing
Private mortgage lenders in BC can help when a bank or credit union cannot approve the file under standard rules. The loan is secured by real estate, and the review often gives more weight to property value, equity, location, and the exit plan.
Seven Lending acts as a licensed mortgage brokerage. We review your needs, compare suitable private lenders, explain the first- or second-mortgage structure, and show the costs before you choose an option.
A private mortgage is usually a short-term tool. It should solve a clear problem and lead to a practical next step, such as a bank refinance, a B-lender mortgage, a property sale, or repayment from confirmed funds.
- First and second mortgage options for BC properties.
- Interest-only structures may be available on suitable files.
- Rates, fees, risks, and exit timing are reviewed together.
What Is a Private Mortgage in BC?
A private mortgage is a loan secured against real estate and funded outside the usual bank channel. It may come from an individual investor, a mortgage investment corporation, a private fund, or another alternative lending source.
The broker arranges the mortgage
A mortgage broker is not automatically the lender. The broker gathers the file, checks the property and mortgage details, compares lender criteria, and presents suitable options. The lender makes the final approval decision and provides the funds.
Private lenders do not all use the same rules. One lender may prefer urban houses under a lower LTV, while another may consider a rental property, mixed-use building, construction file, or rural asset.
Our role is to match the loan purpose, property type, amount, mortgage position, and exit plan with a lender that is prepared to review that exact situation.
Borrowers who are new to this market can also review what a private mortgage lender is and how private-lender safety is assessed.
Our Private Mortgage Solutions in BC
These financing categories remain available for borrowers, homeowners, investors, and business property owners across British Columbia.
Residential Mortgages
Commercial Mortgages
Home Equity Loans
Debt Consolidation Loans
Construction and Renovation Loans
Bridge Financing
No Income Verification Mortgage
Deposit Financing
Bad Credit Mortgage
Self-Employed Mortgage
Reverse Mortgage
Each solution needs a different structure
Residential and home-equity files usually focus on appraised value, existing mortgages, and the amount of usable equity. Commercial, construction, and investment files may also require rent, project budgets, zoning, permits, or a business plan.
A no-income-verification or bad-credit file still needs a workable property, acceptable LTV, and a realistic way to repay the loan. A private lender does not ignore risk; the lender reviews it differently.
How We Select a Private Lender for Your File
The lowest advertised rate is not always the best fit. A useful lender match must work for the property, timeline, repayment plan, and total cost.
Mortgage position
The lender needs to know whether the loan will be registered in first or second position and how much secured debt will remain ahead of it.
Loan purpose and timing
A purchase, refinance, tax payout, renovation, bridge, or debt-consolidation file may call for different terms and documents.
Exit strength
We look at how and when the balance is expected to be repaid, including a backup plan if the first exit takes longer than expected.
Private Mortgage Rates in BC
Private mortgage pricing depends on risk, LTV, mortgage position, property type, location, term, and the strength of the exit plan. The image below is an illustration, not a guaranteed quote.
*Interest rates are compounded monthly, not in advance.
*All content is subject to change without notice.
* Terms and conditions apply.
* Final approval is at the sole discretion of the lending committee.
*The APR mentioned here is higher than the rate because it assumes additional costs including lender fee, broker fees and legal fee plus other costs not limited to title insurance, appraisal costs etc. for a 1st or 2nd mortgage offered by Seven Lending.
*Numbers are estimate only and provided to show an illustration, for up-to-date numbers and exact APR please refer to Fixed Credit Disclosures of the offering or contact a licensed agent with Seven Lending.
Rates and APR can change. The APR may include lender, brokerage, legal, appraisal, title, and other transaction costs. Review current details on the private mortgage rates page.
First Mortgage vs Second Mortgage
The mortgage position changes the lender's risk, the available loan amount, and the cost of the financing.
Private First Mortgage
A first mortgage is registered ahead of other mortgages. It may finance a purchase or replace an existing first loan through a refinance.
- It has the first claim on the property security.
- It may offer more room than a loan placed behind another mortgage.
- Replacing a current mortgage can create discharge or prepayment costs.
Private Second Mortgage
A second mortgage is registered behind the first lender. It can release equity without replacing a strong first-mortgage rate.
- The first lender is paid before the second lender if enforcement occurs.
- The added risk often leads to a higher rate or fee.
- The combined balance of both mortgages affects the available room.
The choice should compare the full cost of keeping or replacing the existing mortgage. See second mortgage vs refinancing for a focused comparison.
How LTV Works in Private Lending
Loan-to-value, or LTV, compares mortgage debt with the appraised property value. For a second mortgage, lenders usually review the combined LTV, which includes all mortgages secured on the property.
LTV = total mortgage debt ÷ appraised property value × 100
Example: A property valued at $1,000,000 with a $550,000 first mortgage and a proposed $150,000 second mortgage has a combined LTV of 70%.
A lower LTV usually means the lender has a larger equity cushion. That can improve lender choice, pricing, or terms, but no percentage guarantees approval.
The final value normally comes from an appraisal accepted by the lender. Property condition, market demand, title issues, taxes, insurance, and location can also affect the decision.
Do You Qualify for a Private Mortgage in BC?
Private approval is based on the whole transaction. Equity matters, but the lender also reviews the property, loan purpose, payment plan, and exit.
Your File May Be Considered If You:
- Own or are buying acceptable real estate in British Columbia.
- Have enough equity for the requested first or second mortgage.
- Need a faster or more flexible review than a bank can provide.
- Have damaged credit, a past proposal, or a recent financial event.
- Earn self-employed, commission, rental, or non-traditional income.
- Have a clear short-term purpose and a realistic repayment path.
The Lender Will Still Review:
- The appraised value and marketability of the property.
- Existing mortgages, liens, taxes, and other secured claims.
- The requested amount and combined LTV.
- Property insurance, title, zoning, and occupancy details.
- Payment ability and the reason for the loan.
- The main exit strategy and a backup option.
Basic Private Mortgage Review Areas
| Review Area | What It Tells the Lender |
|---|---|
| Property location | How easy the property may be to value and sell if needed. |
| Property type | Whether the lender accepts residential, commercial, mixed-use, rural, or construction security. |
| Appraised value | The value used to calculate LTV and available equity. |
| Mortgage position | Whether the lender will be registered first, second, or behind other secured debt. |
| Loan purpose | Why the money is needed and whether the use supports the exit plan. |
| Exit strategy | How the lender expects the balance to be paid at or before maturity. |
Private Mortgage Costs, Interest-Only Terms, and Risks
The monthly payment is only one part of the decision. A clear quote should show the rate, APR, fees, legal costs, net proceeds, maturity date, and repayment conditions.
Interest-only payments
Some private mortgages allow interest-only payments during the term. This can lower the monthly payment, but the principal usually stays the same unless extra payments are permitted and made.
The full balance may still be due at maturity, so the exit cannot be left until the last month.
Fees and closing costs
The transaction may include a lender fee, broker fee, appraisal, legal work, title insurance, registration, discharge fees, and a first-mortgage penalty.
Ask for the amount you will receive after deductions and the total dollar cost over the planned holding period.
Property-secured risk
The mortgage is secured by real estate. Missed payments, unpaid taxes, lapsed insurance, or failure to repay at maturity can lead to added charges and enforcement.
Borrow only when the payment and exit plan remain realistic under a delayed or more expensive scenario.
Important: Short-term approval does not guarantee a later refinance or renewal. The next lender will review your circumstances at that future date.
Exit Strategy Comes Before Funding
A private mortgage should be arranged around the end result. The term needs to be long enough to fix the current issue and move the file toward a lower-cost or permanent solution.
Stabilize the immediate problem
The loan may stop an urgent payout, complete a purchase, finish a project, or consolidate expensive debt.
Improve the weak part of the file
This may involve rebuilding credit, documenting income, completing construction, resolving tax debt, or preparing a property for sale.
Repay or move to the next lender tier
The planned exit may be a bank or B-lender refinance, property sale, business proceeds, estate funds, or another confirmed source.
A good private mortgage exit strategy includes timing, expected documents, a cost estimate, and a backup route.
Private Mortgage Lenders Across British Columbia
Local market knowledge matters because property values, lender appetite, and appraisal support vary by city and property type.
Vancouver
Surrey
Langley
Abbotsford
Richmond
Burnaby
Coquitlam
New Westminster
Kelowna
Salmon Arm
Vernon
Penticton
Victoria
Maple Ridge
White Rock
Hope
Saanich
Chilliwack
Kamloops
Oliver
Files outside these centres may still be considered. Rural, recreational, manufactured-home, land, and commercial properties need a more specific lender review.
How Our Private Mortgage Process Works
Submit the core details
Share the property address, estimated value, mortgage balances, amount needed, purpose, and timing.
Broker review and lender matching
We assess LTV, property fit, mortgage position, costs, and exit strength before approaching suitable lenders.
Commitment, legal review, and funding
You review the written terms and conditions. The mortgage closes after appraisal, documents, and legal requirements are complete.
