Private mortgages usually run for shorter terms than bank mortgages. Here is how terms and renewals work.
Short-term by design
Private mortgages are typically arranged for shorter terms, reflecting their role as a bridge solution rather than long-term financing.
What happens at the end of the term
As the term ends, you will usually repay the loan, refinance, or, in some cases, renew — depending on your situation and plan.
Plan ahead
Knowing your term and your plan for the end of it helps you avoid surprises. We will be clear about the terms up front.
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If this fits your situation, start your application or contact us and we will help you understand your options across Ontario.
This article is for general information only and is not financial, legal, or investment advice. Please consult a qualified, licensed professional before making any decision.