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Mortgage Squad Advisors
Aurora · OntarioPrivate

Private mortgage lending in Aurora

Funded in ~7-14 days. Equity-based. 12-18 month bridge to B or A pricing. Upper-tier York family market; strong refinance book.

7-14 day fundingEquity-basedBridgeExit plan
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Quick scenario · Aurora
On a $1,105,004 Aurora home (50% LTV existing)
Home value (city average)
Aurora 2026
$1,105,004
Assumed existing mortgage
50% LTV assumption
$552,502
Accessible equity (75% LTV)
Equity you could access
$276,251
Est. monthly payment
At 7.49% on full draw
$2,019/mo
Illustrative only. Actual rate, qualifying amount, and premium depend on your file. A licensed advisor will give you the exact number for your file.
Private mortgages in Aurora — the local picture

Aurora's average price was $1,105,004 in August 2026. On an Aurora home at $1,105,004 already carrying a $552,502 first, a private second to the 85% combined ceiling raises about $386,751 — $4,187 a month interest-only at 12.99%, and $56,612 to $64,347 all-in over 12 months once the lender fee, the broker fee and the legals are counted. That all-in figure is the one to compare against, not the rate: it works out to 14.6%–16.6% a year on the money you actually receive. For an owner in Aurora Estates or Aurora Heights it buys a closing date or stops a default; what it does not buy is time, so we date the exit before we place the file.

Aurora average selling price, TRREB Market Watch, August 2026. Source.

Written by the Mortgage Squad Advisors Editorial Team · Reviewed by Surrayya Afzal, Principal Broker, FSRA #M14001433 · Brokerage FSRA #13737 · Figures current to August 2026

All mortgages in Aurora| Private mortgages guide| Payment calculator
Max LTV (1st)
75%
Equity-based
Max CLTV (2nd)
85%
Combined with first
Term
6-24 mo
Bridge to A-lender
Funding speed
~7-14 days
After appraisal + legal

Private mortgages: Aurora against the markets around it

The same arithmetic (above an assumed 50%-LTV first mortgage) on each market’s own published figure. Rates do not change across the boundary; the price does, and with it the file.

MarketPriceEquity reachable at 75% LTVvs Aurora
Aurora$1,105,004 average$276,251—
Vaughan$1,234,758 average$308,690+$32,439
Markham$1,208,692 average$302,173+$25,922
Richmond Hill$1,205,777 average$301,444+$25,193
Newmarket$1,048,321 average$262,080−$14,171

Each figure is that market’s own board release, as cited on its page. Illustrative arithmetic, not a quote.

A private first or a private second — the Aurora arithmetic

These are different products and the choice is usually decided by what your existing mortgage costs, not by which is cheaper on its own. A private FIRST replaces the mortgage you have: on Aurora's $1,105,004 value at 75% loan-to-value that is $828,753, about $5,173 a month interest-only at 7.49% — and it prices your whole balance at the private rate, including the part that is currently sitting at an A-lender rate. A private SECOND leaves that first alone and sits behind it: to the 85% combined ceiling, behind the $552,502 first this page assumes, that is $386,751 at 12.99%, or $4,187 a month interest-only. The second carries the higher rate because it recovers last if the house sells, and it is still normally the cheaper answer, because only the new money is priced at it. The exception is a first that is already expensive, or a first whose lender will not permit a charge behind it — and that is a question we answer by reading your existing commitment, not by guessing.

How a private mortgage works — the rules, the penalties and the paperwork that are the same in every city — is covered in full on our private mortgages guide. This page keeps to what is different in Aurora.

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Private mortgages across Aurora

From Aurora Estates to Hills of St. Andrew, the dominant property form in each pocket changes how a private mortgage file is underwritten.

Aurora Estates

Estate lots and executive detached

Acreage narrows the private lender list sharply and lowers the loan-to-value offered, because a rural resale takes longer — the exit plan matters more here than the rate does.

Aurora Heights

Established detached, mature lots

Long-held older stock is where private lending most often works, because the equity is already there. Age-related condition items reduce the value a private lender will lend against, so the appraisal drives the number more than the asking price does.

Bayview Wellington

1990s–2000s detached and townhouse

Freehold towns are straightforward private security. A condominium town is priced as a condominium, at the lower loan-to-value that form attracts.

Hills of St. Andrew

Executive detached on larger lots

Detached and semi houses are the security private lenders price most keenly, because resale is predictable — the strongest loan-to-value in a private file usually sits on this form.

Regional Ontario lenders we shop — alongside the Big-6 banks and national monolines:

Meridian DUCA Alterna Savings FirstOntario
FAQ

Private mortgages in Aurora — common questions.

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What does a private mortgage work out to on Aurora's August 2026 average price?
Aurora average selling price, TRREB Market Watch put the Aurora average at $1,105,004 for August 2026. For a private mortgage that makes the equity reachable at 75% ltv about $276,251 (above an assumed 50%-LTV first mortgage). The same board counted 49 Aurora sales in August 2026, with an average LDOM of 42 days. Your own property and balance replace these numbers on the file.
How does Aurora compare with Vaughan, Markham and Richmond Hill for a private mortgage?
On each market's own cited figure, the equity reachable at 75% ltv is $276,251 in Aurora against Vaughan $308,690 (average $1,234,758); Markham $302,173 (average $1,208,692); Richmond Hill $301,444 (average $1,205,777). The comparison is the same arithmetic on a different price, which is why moving the search one municipality over changes the file before it changes the rate — lenders price the same product the same way across Ontario.
What's the average private mortgage file size in Aurora?
On an Aurora home valued at the $1,105,004 average, a typical private mortgage client can access up to $276,251 of usable equity, assuming an existing first-mortgage balance around 50% LTV.
What does a private mortgage cost on a typical Aurora home?
On an Aurora home valued at the $1,105,004 average with an assumed first mortgage near 50% LTV, a private mortgage can unlock about $276,251 at 75% LTV — roughly $2,019/mo at 7.49% on a full draw. The figure scales with your actual value and existing balance.
Why use an Aurora mortgage broker for a private mortgage?
A local broker knows GTA / York's property types and which of our 100+ lenders price private mortgage files best in Aurora — from Aurora Estates and Aurora Heights condos to detached stock — and there's no fee to you on A-lender files. The regional lenders on that panel are listed under the neighbourhood table above.
What does a private second mortgage actually cost in Aurora?
On Aurora's $1,105,004 value, behind the $552,502 first this page assumes, a second to the 85% combined ceiling is about $386,751. Interest-only at 12.99% that is $4,187 a month, $50,244 over 12 months. Add a lender fee of 1%–3% ($3,868–$11,603, normally taken off the advance) and roughly $2,500 of legal and appraisal costs. All in: $56,612–$64,347, an effective 14.6%–16.6% a year on the money advanced. Compare that figure, not the rate.
Should I take a private first or a private second in Aurora?
Almost always the second, if your existing first is at a normal rate — a private first at 75% LTV would be $828,753 here, and it reprices your entire balance at 7.49% instead of pricing only the new money. The second costs 12.99% because it recovers last on a sale, but it applies to $386,751 rather than to everything. A private first makes sense when the existing first is itself expensive, when it is already in default, or when the first lender will not permit a charge behind it — which we determine by reading your commitment, not by assuming.
Who regulates a private mortgage in Ontario?
Mortgage Squad Advisors is a licensed Ontario mortgage brokerage — FSRA (Financial Services Regulatory Authority of Ontario) Brokerage Licence #13737. All advisors are licensed and FINTRAC-trained, and every recommendation follows FSRA's conduct and disclosure rules.

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