Prime Rate

7.20%

1 Year Fixed Rate

6.69%

2 Year Fixed Rate

6.04%

3 Year Fixed Rate

4.94%

4 Year Fixed Rate

5.09%

5 Year Fixed Rate

4.89%

Fixed Rates

Prime 7.20%
5 Year Fixed Rate 4.89%
4 Year Fixed Rate 5.09%
3 Year Fixed Rate 4.94%
2 Year Fixed Rate 6.04%
1 Year Fixed Rate 6.69%

Variable Rates

5 Year Variable Rate Prime -.95%
3 Year Variable Rate Prime -.95%

Private Mortgage Rates

First Mortgages starting as low as 7.99%

Second Mortgages starting as low as 9.99%

Up to 80% LTV
Beacon Scores from 300 +

Exploring Ottawa’s Real Estate Market & Mortgage Options

Within the initial four months of 2023, Ottawa housing experienced significant price growth and activity. Sales figures and average sale prices have risen along with diminishing available homes. Thus, we are seeing high housing demand with low supply. This trend provides many opportunities for homeowners to access outstanding mortgages in Ottawa.

Rising average sale prices mean increases in home equity. Home equity is defined as the value of your current mortgage minus current market value. This surge indicates homeowners can access more equity to finance renovations, consolidate debt, and other objectives.

At Canadalend, our portfolio of lenders allows us to generate the best deal for our customers as each of these lenders is vying for your business. You will receive the best terms, and we work with your current situation to provide optimal options.

Discover Our Mortgage Services

We provide exceptional mortgage services to people with varying income levels and credit scores. We work with you to help you meet your goals.

Mortgage Refinancing

Mortgage refinancing is taking out another mortgage to replace your current one. Homeowners can refinance for the same amount or use their home equity for additional cash. Mortgage refinancing in Ottawa is ideal for debt consolidation, receiving lower rates, repairing damaged credit, or accessing money.

Home Buyers Mortgage Plans

We understand buying a house is a big decision. At Canadalend, we assess clients' needs, situations, and financial goals. Then, we help them find the best product at the lowest interest rates, enabling them to save money. We tailor our solutions to the individual and strive to provide competitive rates.

Second Mortgage

A second mortgage helps customers access funds to help consolidate debt with lower interest rates, assist with other expenses, conduct renovations, or invest in property/business. It allows homeowners to borrow amounts higher than what they would qualify for if they took a personal loan.

Getting a second mortgage in Ottawa allows you to borrow up to 80% of your home’s value and offers lower interest rates.

Commercial & Industrial Solutions

If you need money to start a new business or for capital for your existing one, our commercial mortgage brokers in Ottawa can provide options. Our access to dedicated construction and commercial underwriters with 20 years of experience provides you with the best solution.

Private Mortgages

Private mortgages offer a short-term secured loan. Terms typically run for one to three-year terms. Borrowers don’t have to pay the principle amount as monthly payments only cover interest, with the principle amount recovered by the end of the term.

Our private lenders in Ottawa back private mortgages. They look beyond your credit history and income to the property’s market value and equity.

Bad Credit Mortgages

Poor credit can happen for several reasons. The Canadian Mortgage and Housing Corporation (CMHC) changes made obtaining financing challenging for some homeowners to get money. Yet, despite difficulties in getting a mortgage with traditional institutions, homeowners can still receive a bad credit mortgage even if they have poor credit, no credit, or low income.

Alternative mortgage lenders in Ottawa, Ontario, look at your existing equity, the home’s condition, and market value to determine your loan.

Self-Employed Mortgages

In Canada, self-employed people don’t declare income like those formally employed. When they must, declared wealth isn’t enough to satisfy traditional lending requirements. A self-employed mortgage allows self-employed people to purchase property, consolidate loans, and pay for education or renovations.

This mortgage type is usually for a short term and receives funding from private lenders.

Home Equity Loans

Home equity is the difference between the amount owed on your property and market value. Home equity loans allow you to use your home’s equity to secure loans. It is for big purchases like a down payment for a second property or renovations.

The advantage of a home equity loan in Ottawa is having access to lower interest rates, flexible lending criteria and increased access to home equity through private lenders.

Home Equity Line of Credit

HELOCs allow homeowners in Ottawa to access funds at lower rates than personal loans or credit cards. As you pay your mortgage, your home equity increases, providing you with equity to secure a loan. Since your home contains collateral for the loan, it ensures lenders that you will pay the loan. Therefore, homeowners can secure a lower rate.

Mortgage & Tax Arrears

Mortgage and tax arrears loans provide financial relief for individuals behind on payments. We recommend acting sooner if you are behind, so our team can secure the best rates. We provide options like second mortgages or equity loans in Ottawa, Ontario, to assist with debt repayments or for some breathing room.

Reverse Mortgage

After buying your home, you may need additional money without selling your property. Reverse mortgages in Ottawa permit owners to access their home equity by borrowing up to 55% of their current property value. The amount depends on age (55+), appraised value/type/condition, and lender eligibility criteria.

You don’t have to pay the loan until the due date. If you want to sell or move, you must make payments. Homeowners can voluntarily make payments. However, if they don’t, interest accrues, thereby reducing home equity.

Mortgage Renewal

While it is easy to renew your mortgage with the same institution, you may be doing yourself a disservice. Our access to a vast portfolio of mortgage brokers gives our customers the best mortgage rates in Ottawa each time because these institutions compete for your business. We help our customers save money and make recommendations based on their financial objectives.

Why Choose Our Mortgage Brokers in Ottawa?

Why go with a mortgage broker instead of a traditional institution? There are several reasons why this is a good decision. Traditional lending must follow a set of stringent rules. It means they will refuse to provide financing for individuals who don’t meet their requirements.

Our mortgage brokers in Ottawa, Ontario, have increased lending options as we can access credit unions, banks, and private lenders. When these areas compete for your business, you receive better rates and terms, saving you money.

Our brokers receive comprehensive training on features, products and rates. They work with our clients to understand their current financial situation and goals to determine how they can help. They will increase your cash flow with the best products and provide fast service. We are available throughout the week to expedite your mortgage application.

For more information, reach out to our private lenders in Ottawa at 1-844-586-0713 or contact us here.

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