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Buying / just bought
For buyers who have signed a purchase agreement, are about to close, or already own and face a funding gap.
Common situations
- Closing is close but the bank hasn't approved the mortgage
- Your old home hasn't sold but the new one closes first (bridge funds needed)
- The appraisal came in below the price and the down payment falls short
- Your lender won't renew, or the renewal rate jumped
Options to consider
- Bridge loan: get the down payment or closing funds before your old home sells
- Short-term private loan: a stopgap when there's no time for bank approval
- Switch / refinance: move lenders or restructure the mortgage
What to prepare
- Purchase agreement (with the closing date)
- Sale agreement or listing for your current home
- Proof of income and recent bank statements
- Renewal notice or statement for your current mortgage
Timing: reach out 2–4 weeks before closing. The closer the date, the fewer options there are.
Bridge loan →Facing a sale / power of sale
For owners behind on mortgage payments who have received demand letters or a power of sale notice.
Common situations
- Several months behind and received a demand letter
- Received a Notice of Sale
- Behind on property tax or condo fees
- Want to sell on your own terms before a forced sale, to keep your equity
Options to consider
- Refinance: use home equity to clear arrears and stop the sale process
- Short-term private loan: buy time for an orderly sale or to sort out finances
- Review with a lawyer: options to redeem the property within the legal period
What to prepare
- Every notice from your lender (demand letters, notice of sale)
- Latest mortgage statement and amount in arrears
- Property tax bill and home insurance
- Income details and a list of other debts
Timing: in Ontario there's usually only about a 35-day redemption period after a notice of sale, so contact us early.
Power of sale countdown →General information only, not legal or financial advice. Options are subject to lender approval; consult a lawyer about legal proceedings.