Reviewed by Micky Khaneka, licensed mortgage broker
Private lending in Vaughan is for a defined gap: a purchase that cannot wait, or equity needed between a sale and a refinance.
MKG Mortgages treats it as a bridge with a date on it. A Kleinburg house and a Concord property are both underwritten on value and exit, not on the postal code.
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 sale, firm, in Woodbridge: $1,300,000, closing in eight weeks, with $400,000 of equity after the mortgage. The purchase closes six weeks earlier and needs $250,000 of that equity. A private bridge of $250,000 for two months at an illustrative 9% interest-only is about $1,875 a month, secured so the sale pays it out.
These are the kinds of second and private mortgages files we structure in Vaughan.
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.
Kleinburg and Woodbridge requests are often larger balances on houses with a first mortgage already in place. Maple and Vellore show up as purchases that went firm. Thornhill condos need building documents. Concord files sometimes involve a property tied to a business, which we separate from a straight house advance.
Kleinburg and Woodbridge requests are often larger balances on houses with a first mortgage already in place. Maple and Vellore show up as purchases that went firm. Thornhill condos need building documents. Concord files sometimes involve a property tied to a business, which we separate from a straight house advance.
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 Vaughan 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.
Only when the sale is firm enough to be the exit, or another repayment source is real. A listing is not a sale.
Not enough equity, a first mortgage that cannot be postponed, or no credible way out. We would rather decline than leave you in a loan with no end.
No. A yard or a warehouse is not a house advance. If the property is commercial, it belongs on the commercial mortgage page, not forced into a private house loan.
From the event that pays it out: a closing, a bank refinance, or a sale. The term should end after that event, with a little room, not years past it.
When the lender requires one, yes. An online estimate is not the value the advance is based on.
The other services in this list each have a Vaughan 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 Vaughan 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.
Vaughan area hubSecond and Private Mortgages is written for each city MKG serves, not only Vaughan. 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 Vaughan 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.