Practice Areas

Overview of our services…

We are the best reviewed Mortgage and Loan Firms in Canada. We proudly offer mortgages and financial advice to fuel the Canadian economy. Our areas of specialty include but not limited to: bridge financing, debt consolidation, homeloans and vacation funds.

And in detail…

We aim to review all inquiries in a timely fashion and to decide on approved mortgages within 5 business days after receiving a formal application for a mortgage. For any questions please feel free to contact us we are more than happy to serve you.

Commercial Mortgages

Mortgages that will take your business to the next level

In detail…

Getting You Necessary Funds

  • The Mortgage Wizard does magic. to ensure you will have the necessary funds; to buy a home, condo or Real Property, easily.

Money for Your Needs

  • The Mortgage Wizard can get you money to run, operate and grow your business.

Hard Money Cash

  • The Mortgage Wizard works with Real Property investors and Hard Money Lenders to Get Investors Cash for Deposit Bids and Tender Submissions.

Types of Business Mortgages

No two business are in the same situation. Therefore we have created various types of mortgages to better serve our clients.

Our Business Mortgages include:

  • commercial mortgage
  • corporate mortgage
  • debt consolidation loan for business
  • industrial mortgage

In detail…

We can provide your mortgage funding for 1st or 2nd mortgages. We offer construction. Where others fail we succeed by offering construction and becoming your success story!

We have connections to get banks to reconsider a mortgage application.

We provide money through banks and private lending.

Our strengths include being successful at acquiring funding where other mortgage companies fail.

Types of Personal Mortgages

Whether you are purchasing a new home, or refinancing we are here to help you through all stages of life.

We offer personal loans for:

  • Bridge Financing During Sale of Home / Purchase of New Residence
  • Debt Consolidation Loans
  • Home Improvement Loans
  • First and Second Mortgages
  • Refinancing
  • Reverse Mortgages

Personal Mortgages

Kickstart Your Life With Aaron Kates!

Private Mortgages

When Banks Say No! We Say Yes!

In detail…

Mortgages from Private Lenders in Ontario

Ontario private lenders will loan out the money in the form of a registered mortgage, which is secured against real estate. Under the Ontario Mortgage Act, the private lender is allowed to sell the property if the agreed-upon mortgage fees are not paid.

Private lenders in Ontario will lend as little as $20,000; typically for a one-year term (unless otherwise requested by the borrower). For riskier mortgages (I.e., second mortgage, or where the applicant has no income),  fees charged and interest rates will be higher than those of bank mortgages.

Private lenders are individuals or companies that generate profits by investing in real estate. The Ontario real estate market is attractive since it has some of the highest real estate appreciation rates in Canada.

Approval Criteria for Private Lender Mortgages

Private lenders focus on the market value and existing debts on a property when deciding whether or not to approve a mortgage application. Banks usually use credit score as a key deciding factor with mortgage applications, however, private lenders can lend to people with a poor credit rating.

Private lenders will calculate a metric called a Loan to Value (LTV) ratio on a property, in order to determine there is a worthwhile investment. To calculate a property’s LTV, a lender will divide the value of the existing mortgage, by the market value of the house. To give an example, a house with a market value of $1,000,000 and $800,000 in existing mortgages will have an LTV of 80%. Most private lenders in Ontario will not invest in residential properties with an LTV that is greater than 80%.

How to Get the Lowest Private Mortgage Interest Rate

To get the best interest rate for a private mortgage a homeowner with the need to meet at least three criteria. The first and probably the most important is a low loan to value ratio (LTV). A low LTV means it is a low-risk mortgage and therefore should get a low-interest rate. Second is the income of the owners, if the homeowner can meet all their financial obligations then the lenders will be more confidant that the borrower can make their payments. The third is the credit score, a high credit score means you can pay all your bills and have a low chance of missing payments. It is important to know that while mortgage approval, is mainly based on LTV, other factors can influence the interest rate.

Reasons for Needing a Private Mortgage

While applying for a private lender mortgage you will be required to state why you need the money. Private lenders are usually quite lenient and will accept the most reasonable responses. Some popular responses include:

  • To pay off high-interest credit card debt
  • To pay for home repairs or renovations
  • For living expenses after a work layoff
  • To stop a Power of Sale process
  • To pay tuition fees for college or university

People who cannot qualify for a low-interest rate loan at a bank are the kind of clients that private lenders seek out. Our private lender network can provide mortgages to people who have been turned down by banks.

Fast Financing from Private Lenders

The major banks in Ontario are required to follow a comprehensive and time-consuming mortgage approval process. There is no possible way to have a bank speed up its mortgage process. This can be an issue for property sales that require money quickly. Private lenders can provide mortgage money much faster than banks can. If required, a private lender can provide funding in as little as one day. Our network of private lenders can lend on real estate in every city and town in Ontario.

Information on Lenders in the Ontario Real Estate Market

Ontario is a province located in the southern part of Canada and shared a border with the US. The Ontario real estate market is the subject of much political debate as the city of Toronto and surrounding cities have experienced double-digit growth in real estate prices for the past few years. Many people in Ontario are turning to private real estate lending to generate extra income. Ontario is known as an economic powerhouse in Canada and is one of the most desirable places to live in the country.

In detail…

Our mandate is to help Canadians of all walks of life to fulfill their dreams of homeownership. Hence we offer we offer an initial complimentary legal review of your mortgage application.

Mortgage Law is long and complicated, but it does not have to be that way. Our seasoned mortgage lawyers will ensure that your mortgage matter is dealt with professionally.

Situations Managed!
We will ensure a full clear title, upon transfer of real property, during a Real Estate transaction. We always request a Status Certificate for condominium purchases, prior to offering submission. We handle the following types of mortgage law:

  • commercial mortgages
  • construction mortgages
  • industrial mortgages
  • personal mortgages
  • reverse mortgages

Mortgage Lawyer

We offer an initial complimentary legal review of your mortgage application.

Our Process

It all begins with a phone call

In detail…

Our Mortgage Process is Easy!

  1. Initial contact: By phone, by e-mail, through the contact form on the website.
  2. Determination of the quantity of funding to be issued; as well as the use of the funds to be lent out.
    a) The client will be withdrawing equity from their own home to potentially purchase an investment home or cottage, or to upgrade an existing home.
  3. Determine the amount of equity in the home. Value of house to be determined. Mortgage Wizard may order an appraisal to determine the fair market value of the property.
  4. Mortgage Wizard will decide if the client qualifies for bank money or private funding; possibly at a slightly higher interest rate. The Wizard always works for his clients; providing clients with the best interest rates.
  5. The mortgage approval decision may be based on credit rating and job security and overall creditworthiness.
  6. Mortgage Wizard grants or denies requests for funding.
  7. A home visit by the Mortgage Wizard to sign commitments. Leave the magic to us! We ensure fast and efficient approvals.
  8. Our team of Lawyers can process mortgage applications and provide funds within days of the approved application. The Wizard makes magic to get you the home of your dreams

We are the best reviewed Mortgage And Consolation Firm in Canada

If you want the best rates then do not hesitate and call or write us an email!

10,000+

Clients Served

35+

Years of experience

24/7

Availability & Support

$100,000,000+

Saved for our clients

This function has been disabled for Mortgage Wizard.