The bank said no — now what? If you’ve been declined by a bank or traditional lender, a private mortgage might be the option you’re hearing about next. But is private lending a smart solution… or a costly mistake? In this episode of The Mortgage Den, host Nick Da Silva, Principal Broker at Northwood Mortgage, breaks down private mortgages in Canada in clear, practical terms. Joined by Lisa in Mortgages for Lisa, Nick explains who private lenders are, how private mortgages work, and when they make sense, and when they don’t. Nick covers private mortgage rates, fees, risks, and exit strategies, and explains why private lending should be viewed as a temporary solution, not a long-term mortgage strategy.
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