Private HELOCs from 7.75% for Hamilton properties. Built for the city's massive renovation and investor market — and for homeowners who fled GTA prices for Hamilton's value.
Hamilton has been one of the hottest renovation and small-investor markets in Ontario for the last decade. A combination of older housing stock with strong bones, GTA migrants priced out of Toronto, BRRRR (Buy-Renovate-Rent-Refinance-Repeat) investors, and a downtown revival has driven both prices and renovation activity to record levels — though the market has cooled meaningfully in early 2026, with the average Hamilton home price now around $720,000, down 6% year-over-year.
Property values: typical detached homes in established neighborhoods like Westdale, Ainslie Wood, and Stinson run $700,000-900,000. Older Beasley and Stinson houses bought as fixer-uppers a few years ago at $400,000 are now $650,000-800,000+ post-renovation. Ancaster, Dundas, and Waterdown sit closer to $1M for typical detached homes.
The renovation-and-investor profile creates two distinct private HELOC use cases: funding the renovation itself, and bridging between the renovation and the eventual bank refinance once the new value is established.
You bought a $550,000 Stinson Victorian. After $180,000 in renovation, ARV is $850,000. Banks won't fund the renovation against the pre-reno value, and won't refinance until it's complete. A private HELOC funds the renovation; you refinance to a bank product when the work is done. The whole cycle takes 6-9 months.
Hamilton's older single-family homes often legally convert to two or three units. A $100,000-200,000 build adds $2,500-5,000/month in rent, transforming the property's economics. HELOC funds the conversion.
You sold in Toronto, bought in Hamilton, banked $400,000+ in equity differential. Now you want to buy an investment property too. HELOC against the new principal residence funds the down payment without disturbing the existing first mortgage.
Westdale, Ainslie Wood, and the surrounding student-rental market continues to grow. HELOC funds the down payment on the next student property.
Hamilton condo pre-construction has had its own appraisal-shortage problems. A short-term HELOC bridges the closing gap so you can take possession and figure out long-term financing.
Hamilton's renovation boom has created huge demand for skilled contractors. The trades businesses doing the work face the same cash flow problems as their clients — HELOC against the contractor's own home funds the business.
A BRRRR investor in Stinson owns a Victorian semi-detached purchased a year ago for $560,000, currently worth $620,000 in its partially-renovated state. They have a first mortgage of $410,000 (the original purchase financing). They need $180,000 to complete the gut renovation — kitchen, both bathrooms, basement legal apartment, mechanical updates. After-Repair Value is appraised at $890,000. A second-position private HELOC at $180,000 puts current combined LTV at approximately 95% — at the very edge — but with the renovation completed and reappraised, the post-renovation LTV drops to 66%. We can structure this with progressive draws tied to renovation milestones to manage exposure. Rate band: 11.00-12.00%. Once the renovation is complete and the property is rented (estimated $4,800/month combined upper/lower units), the investor refinances to a bank investment property mortgage at 65% LTV.
Westdale, Durand, Stinson, Beasley, Ainslie Wood, Strathcona, Locke Street, Corktown, Crown Point, Gibson, Landsdale, Ancaster, Dundas, Stoney Creek, Mount Hope, Waterdown, Flamborough, Glanbrook.
Detached, semi-detached, townhouse, and most condos qualify. Rental properties qualify with a 0.25% rate premium. Properties in surrounding rural and edge communities considered case-by-case.
If your bank will give you the line you need at their rate, take it — bank HELOCs are cheaper. We help when the bank says no, when the bank says "yes but for less than you need," when you can't wait the 6-8 weeks bank approvals are now taking, or when your situation is too complex for an algorithm to underwrite.
For most clients, a private HELOC is a bridge — 12 to 24 months to get refinanced back to a bank product once income, credit, or property situation has stabilized. The fully open structure means there's no penalty when that time comes.
Tell us about your property and your situation. We'll come back within one business day with whether this fits, what rate band you'd be in, and what the next step looks like.
If it's not a fit, we'll tell you that too — and where else to look.
We'll review your file and come back within one business day. Check your email (including spam) for our reply.