Oshawa, Ontario
Private Mortgages in Oshawa
Yes, we lend in Oshawa. First and second mortgages on houses, townhomes and condos, decided on the equity in the property and a clear exit — not on a credit score or a paystub.
Stonefield Capital is an FSRA-licensed private mortgage lender providing first and second mortgages on residential property in Oshawa, Ontario. Approval is based on the equity in the property and a clear exit strategy rather than credit score or income documents. Most files close without a formal appraisal, commitments are issued the same day, and funding can happen in as little as 48 hours. Borrowers are matched with a Stonefield-approved mortgage broker; brokers submit deals directly.
How a private mortgage works in Oshawa
A private mortgage is a short-term loan secured against your property, funded by a private lender instead of a bank. It exists for the situations a bank's checklist can't handle: a closing date the bank won't meet, income that doesn't fit the form, a credit score that slipped, a property the bank won't touch, or a power of sale that has to be stopped this month. The loan is a bridge, typically 1 to 12 months, interest-only, with a planned way out.
Stonefield underwrites three things: the equity in the property, whether it can be sold in the Oshawa market if it came to that, and the exit — a refinance back to a bank, a sale, or a defined payout. We run our own comparable-sales analysis rather than waiting for an appraisal, so a Oshawa file usually gets a commitment the same day it arrives, and if an appraisal is ever needed you hear it in the first response, never at closing.
Pricing is set by loan-to-value and lien position. First mortgages currently start from 7.99% and second mortgages from 9.49%; the full ladder is on our rate page and it updates whenever our pricing does.
The Oshawa picture
Oshawa is the largest city in Durham and the most affordable in the eastern GTA, with older homes in the centre and south, newer subdivisions in Windfields, Taunton and Kedron to the north, and a student rental base around the universities. It is a market where investors and first-time owners meet.
We see investor equity take-outs, refinances that clear arrears, and second mortgages for owners whose credit has slipped.
Oshawa is inside the GTA
In the GTA we lend up to 70% loan-to-value on residential property, and our sharpest-priced programme, Stonefield Ace, applies to first mortgages here: GTA-only, first mortgages from $200,000, priced below our Flex ladder for files with an approved appraisal and a 600+ beacon. Everything that doesn't fit Ace goes through Stonefield Flex: firsts and seconds, no minimum credit score, usually no appraisal.
Second mortgages in Oshawa
A second mortgage sits behind your existing first mortgage and lets you borrow against the equity you've built without breaking the first. In Oshawa this is the most common way homeowners consolidate high-interest debt, clear CRA or property-tax arrears, fund renovations, or pull working capital out of the house. The first mortgage stays exactly as it is.
We fund seconds in Oshawa the same way we fund firsts: on combined loan-to-value and a credible exit. A bank decline for credit or income reasons doesn't stop a second mortgage here, because we aren't underwriting your credit. If the combined LTV runs high, a second Ontario property can be added as collateral to bring it into range.
More on private second mortgages and second mortgages with bad credit.
What we lend on in Oshawa
Equity and exit, not credit score
No minimum beacon. Approval turns on the equity available and a realistic exit. A Notice of Assessment is always requested to confirm there are no CRA arrears ahead of the mortgage.
Usually no appraisal
We run comparable sales in Oshawa ourselves at submission, saving the fee and several days. If a report is needed, you hear it in the first response.
Same-day commitments
A commitment the day the file arrives in most cases, and funding in as little as 48 hours once a lawyer is ready. Legal preparation, not underwriting, is the usual bottleneck.
When Oshawa homeowners and brokers call us
The bank said no
Declined or won't renew on credit, income, or property type, but the equity is there.
Self-employed income
Your return shows a fraction of what you earn and the bank's ratios don't work.
Debt consolidation with bruised credit
Roll cards, loans and arrears into one payment against the house.
Power of sale
Your lender has started proceedings and you need to refinance or sell on your own terms.
A closing that can't wait
The bank pulled the deal or is too slow and the date is days away.
Bridge to a sale
Buying in Oshawa before your current home has sold, or closed.
Areas of Oshawa we lend in
Residential property anywhere in Oshawa: detached, semi, townhouse and condo. If your street isn't listed, we still lend there.
Frequently Asked Questions
Does Stonefield lend in Oshawa?
How much can I borrow on a Oshawa property?
What does a private mortgage in Oshawa cost?
Do I need an appraisal?
How fast can a Oshawa mortgage close?
I'm a homeowner in Oshawa, not a broker. How do I start?
Private mortgages near Oshawa
Have a Oshawa property and a deadline?
Homeowners get matched with a Stonefield-approved broker. Brokers submit the file directly and hear back the same day.