At MIP Mortgage and Investment Professionals, we specialize in private mortgages in Calgary connecting borrowers with licensed private lenders to provide equity-based financing options. Whether you’ve been turned down by banks due to credit issues, self-employment income, high debt ratios, or tight timelines, or simply need more flexible terms, private mortgages offer a reliable alternative. We focus on your property’s value and a clear exit strategy, rather than strict traditional income or credit requirements.
Private mortgages help homeowners and investors secure funding for purchases, refinances, bridge financing, equity access, debt consolidation, renovations, investment properties, and more.
A private mortgage is a short-term loan secured against real estate and funded by individual investors, private companies, or mortgage investment corporations (MICs). Unlike conventional bank mortgages, private lenders prioritize property equity and a viable repayment plan over extensive credit or income verification.
Private mortgages are regulated under Alberta’s Real Estate Act, ensuring licensed lenders provide transparent terms.
| Feature | Private Mortgage Calgary | Conventional Mortgage Calgary |
|---|---|---|
| Approval & Funding Time | Often 1–3 weeks (faster in many cases) | 30–60+ days |
| Interest Rates | Generally higher | Lower for qualified borrowers |
| Qualification | Equity-focused; flexible on credit/income | Strict credit, income, stress test requirements |
| Fees | 1–3% lender fee + legal/appraisal costs | Lower overall |
| Term Length | Typically 6–24 months | 1–5+ years |
| Best For | Urgent needs, bank declines, non-traditional borrowers | Strong credit and stable income profiles |
Private lenders focus primarily on:
Common profiles include self-employed borrowers, those with credit challenges, recent bankruptcy (discharged), high debt ratios, or investment needs.
A short-term loan from private lenders secured by property, offering flexible terms.
Approval often within days; funding typically 1–3 weeks.
No—equity is key; credit is secondary.
Varies by lender; often 15–25% or more.
Yes, especially for non-standard properties or urgent needs.
Interest often yes for investment properties.
Yes, under Alberta’s Real Estate Act.
