Reviewed by Micky Khaneka, licensed mortgage broker
Private lending in Milton covers a short gap: a new-build completion the bank file will miss, or a purchase in Scott or Harrison that closes before a condo closer to the city has sold.
MKG Mortgages states the lender fee, the broker fee, and the higher cost before anyone signs, and names the event that pays the loan off. No exit, no advance.
There has to be equity, a first mortgage that allows the structure if a second is used, and a dated way out. The way out is a firm sale, a bank mortgage that can close, or another source you can document.
Illustrated new house in Harrison completes in five weeks. The buyer's condo is firm and closes three weeks later, so the equity is not free on the completion date. A short private bridge, plus the lender fee and the broker fee, is repaid from that condo closing.
These are the kinds of second and private mortgages files we structure in Milton.
Illustrative example
The challenge. The bank file was one condition short of funding on that date.
How MKG structured it. A private advance covered the closing, with the bank mortgage named as the exit once the condition was cleared.
Illustrative example
The challenge. The sale was firm and closed a few weeks after the purchase.
How MKG structured it. A short bridge used the equity from the sale as the repayment.
Illustrative example
The challenge. The bank would look again after a defined period, and the house could support a second mortgage now.
How MKG structured it. We placed a private second with that refinance as the way back to prime.
The exit date is part of the file before an advance.
Willmott, Harrison, Scott, and Coates are where completion dates move. Hawthorne Village is more often an equity request on a house already owned. Downtown Milton and Milton Heights use the same test: value, the first mortgage, and a dated way out.
Willmott, Harrison, Scott, and Coates are where completion dates move. Hawthorne Village is more often an equity request on a house already owned. Downtown Milton and Milton Heights use the same test: value, the first mortgage, and a dated way out.
The note below is paraphrased from a public Google review. It is one client's experience, not a promise that the next file ends the same way. A rate in a client's words is not an offer from MKG. The lender still decides.
A client with a tight closing wrote that the costs and the way out were set out before anything moved ahead.
Paraphrased from a public Google review of MKG Mortgages. Names and identifying details are left out.
Micky Khaneka is a licensed mortgage broker, FSRA M21002608, at FLOW Lending Group, Brokerage #12864. Canadian Mortgage Professional named him to the CMP Top 75 for 2026, at number 15 in Canada. The lender still decides. The lender still decides.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
The firm serves clients in English, Hindi, Punjabi and Bengali.
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People ask how second and private mortgages works on a Milton property, and what documents come first. The short answers below stay on this page. The lender still decides, and the office is in North York. The lender still decides.
It is short, it costs more, and it exists because the bank file or the dates will not meet the completion. It is not a five-year mortgage with a different name.
The lender may charge a fee, and the brokerage may charge a broker fee. Both are stated before an application starts. Any rate is on approved credit and is not a quote.
Only with another repayment source you can document. A hope that a bank will approve later is not an exit.
No. If a second is the structure, the first mortgage has to allow it. We ask before anyone counts on that.
The other services in this list each have a Milton page. Open the one that matches the file, whether that is a purchase, a refinance, a renewal, a consolidation, self-employed income, or a private mortgage. The lender still decides. The lender still decides.
The Milton hub names the neighbourhoods, the housing that shows up, and a local example. It links back to these service pages. The office that handles the file is in North York, and the lender still decides. The lender still decides.
Milton area hubSecond and Private Mortgages is written for each city MKG serves, not only Milton. The local page changes the neighbourhoods and the example. The rules of the product stay the same, and the lender still decides. The lender still decides.
Send the agreement or the mortgage statement for the Milton property, or book a call. The first conversation is free. It is a review of this file, not an approval, and the office that handles it is in North York.
Sources. FSRA — mortgage brokering · FCAC — mortgages Published rules change. Read the current page, and confirm tax with your lawyer, before you rely on a figure.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.