Can an Ontario Private Lender Close a Mortgage in 48 Hours?

Yes, Stonefield Capital can close a private mortgage in Ontario in as little as 48 hours when legal counsel is ready and title is clear. A same-day commitment is standard on a complete file. Two full business days is the realistic rush timeline for most deals, and the variable is never underwriting; it is the borrower's lawyer preparing closing documents.

What Is a Rush Closing?

A rush closing is a private mortgage that must be funded within days of submission, not weeks. Rush closings are distinct from standard private mortgage files only in timing, not in how they are underwritten. Stonefield Capital underwrites every file (rush or standard) on equity and exit strategy.

When Does a Broker Need a Rush Close?

Certain situations create a hard deadline that a bank cannot meet. The most common are:

A bank pulling or declining a commitment days before closing
A closing date arriving with financing never fully secured or fallen through
An appraisal delaying the bank past the firm closing date
A bank condition that cannot be met in time
A bidding-war win with a tight, non-negotiable close date
A power-of-sale redemption period expiring

In each case, the deal exists and the equity is there; the only problem is the clock. That is exactly where a 48-hour rush closing from a private lender fits.

How Does Stonefield Underwrite a Rush File?

Approval is based on two things: the equity in the property and a credible exit. There is no income test and no minimum credit score. A Notice of Assessment is always requested — not to verify income, but to confirm there are no CRA arrears that rank ahead of the mortgage and reduce effective equity. One underwriter reviews the file. One decision-maker issues the commitment. There is no committee, no escalation queue, and no second approval layer.

What Is the Minimum Submission for a Rush File?

A complete submission lets Stonefield issue a same-day commitment. Submit at minimum:

Property address
Estimated or appraised value
Existing mortgage balances and payout statements
Net funds needed to close
Target closing date
A short account of the urgency
The exit strategy (refinance to an institutional lender, sale, or other defined path)
Borrower's contact details
Borrower's lawyer contact details, or a request for a referral to one

Submit directly at stonefieldcapital.ca/deal-submission.

What Does a 48-Hour Close Look Like, Step by Step?

The sequence below assumes legal counsel is engaged and the submission is complete:

Day 1: Submission reviewed: File received, equity confirmed, exit assessed.
Day 1: Commitment issued: Same-day commitment letter sent to broker and borrower.
Day 1: Retainer paid, lawyers instructed: A retainer is always required before Stonefield's lawyers begin work. Once paid, lender's counsel is instructed and borrower's lawyer receives the package.
Day 1 to 2: Documents prepared and signed: Borrower's lawyer prepares closing documents. Both legal teams exchange and approve. This window is the most time-variable step.
Day 2: Registration and funding: Mortgage registers on title. Funds advance on registration.

Stonefield has closed files in one business day. Two full business days is the realistic expectation when everything is in place. Most rush files close in two to three business days because the borrower's lawyer is the real bottleneck, not underwriting. For a deeper look at how fast private lender closings work end to end, see how fast a private lender in Ontario can close a mortgage.

What Slows a Rush File Down?

These are the most common causes of delay on files that arrive as urgent:

No lawyer lined up. Borrower's counsel must be ready to act. Stonefield can recommend a lawyer known to move quickly.
Missing payout statements or mortgage balances. Without exact figures, net equity cannot be confirmed and the commitment cannot be finalized.
Title issues. Liens, judgments, or encumbrances that were not disclosed add a resolution step that no lender can skip.
Retainer not paid. Stonefield's lawyers do not begin until the retainer is received. Delay here is a direct delay to funding.
Unnecessary appraisal ordered. Stonefield typically approves private mortgages without a formal appraisal, using an in-house comparable-sales analysis. Ordering one when it is not needed adds days and costs the borrower a fee. If an appraisal is required, that is flagged in the initial response — never at commitment.

Does a Rush File Cost More?

There is no speed premium from Stonefield. A rush file is priced the same as a standard file with the same risk profile — by loan-to-value and position. Current indicative rates are published at stonefieldcapital.ca/private-mortgage-rates. Legal fees for any private mortgage transaction are typically around $3,000. The borrower's own lawyer may charge a rush legal fee on their side; that is between borrower and counsel.

What About Payments and Term?

Stonefield Capital structures private mortgages as interest-only during the term. Terms run from 1 to 12 months, with renewal options where the exit plan supports it. A rush closing does not change the payment structure — the loan is a short-term bridge to a defined exit, whether that is a bank refinance, a sale, or another qualifying event.

How Do Brokers Submit a Rush Deal?

Submit through the deal submission page at stonefieldcapital.ca/deal-submission. Include every item from the minimum submission checklist above — a complete file on first submission is the single biggest factor in getting a same-day commitment. Stonefield Capital reaches brokers through its broker channel at stonefieldcapital.ca/brokers/, and the team can be reached directly at (416) 371-2077 or info@stonefieldcapital.ca for time-critical situations.

Frequently Asked Questions

Can Stonefield Capital really close a private mortgage in 48 hours in Ontario?

Yes — Stonefield Capital can fund in as little as 48 hours when legal counsel is ready, the submission is complete, and title is clear. The bottleneck is never underwriting; it is the borrower's lawyer preparing closing documents. Two full business days is the realistic timeline for most rush files. Stonefield has closed files in one business day on well-prepared deals.

What information does a broker need to submit a rush file to Stonefield Capital?

Submit the property address, estimated or appraised value, all existing mortgage balances and payout statements, net funds needed to close, the target closing date, a short explanation of the urgency, the exit strategy, and the borrower's and lawyer's contact details. A complete first submission enables a same-day commitment. Submit at stonefieldcapital.ca/deal-submission.

Does Stonefield charge a premium for a rush closing?

No. Stonefield Capital prices rush files the same as standard files with the same risk profile — based on loan-to-value and position. There is no speed surcharge from Stonefield. The borrower's own lawyer may charge a rush legal fee on their side. Legal fees for a Stonefield transaction are typically around $3,000.

What is the most common reason a rush close gets delayed?

The most common causes are: no lawyer ready to act on the borrower's side, missing payout statements or mortgage balances, title issues not disclosed upfront, and the retainer not being paid promptly. Stonefield's lawyers cannot begin work until the retainer is received. Having legal counsel lined up before submission removes the most frequent delay point.

Does Stonefield check income or credit score on a rush file?

No. Stonefield Capital underwrites on equity and exit strategy, not income or credit score. There is no income test and no minimum credit score on a standard (Flex) file; the Ace programme has its own credit requirement. A Notice of Assessment is always requested to check for CRA arrears, which rank ahead of the mortgage and affect the equity calculation, not to verify income.