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Private Mortgage Agreement (Ontario)
NextGen Docs form ND-1114. Search ND-1114 on docs.ngz.ca to make this document again.
The commitment and terms for a private loan secured on a home: amount, interest, payments, term and the legal disclosures.
Start this document $2.99 or in the monthly planHow it works
What you will fill in
- Does any of these apply?
- Lender's full legal name and address
- Borrower's full legal names and address
- Property address and PIN
- Mortgage position
- Loan amount ($)
- Interest rate (% per year)
- Payment type
- Monthly payment ($)
- Term (months)
- First payment date
- Can the borrower pay it off early?
Good to know
- This is the commitment. The mortgage itself (a 'charge') must be registered on title electronically by a lawyer, usually the lender's lawyer, using the standard charge terms. Without registration the lender is not secured.
- The Criminal Code (s. 347) makes it a crime to charge more than a 35% annual percentage rate, counting interest and all fees.
- If you lend or broker mortgages as a business in Ontario, you need a licence from FSRA under the Mortgage Brokerages, Lenders and Administrators Act, 2006. A one-time family or friend loan usually does not.
Help in your language
Every question comes with help like this. For example, “Does any of these apply?”:
English: If one applies, please have a lawyer check. A lawyer must register the charge in any case.
اردو: اگر کوئی ہو تو وکیل سے چیک کروائیں۔
ਪੰਜਾਬੀ: ਜੇ ਕੋਈ ਹੈ ਤਾਂ ਵਕੀਲ ਤੋਂ ਚੈੱਕ ਕਰਵਾਓ।
हिन्दी: अगर कोई है तो वकील से जाँच करवाएँ।
Français: Si oui, faites vérifier par un avocat.
Questions people ask
How much does the Private Mortgage Agreement cost?
It is free to fill in and preview. To download it, buy just this one for $2.99 or use a plan (Monthly $9.99, or Yearly $79); new accounts get 7 days free with no card needed.
Can I fill in the Private Mortgage Agreement in Urdu, Punjabi, Hindi or French?
Yes. The finished document is in English, but every question has plain help in English, Urdu, Punjabi, Hindi and French, and you can speak your answers.
Do I need a lawyer?
Many people use this document on their own. If your situation is complicated, or a lot of money or your home is involved, talk to a lawyer or licensed paralegal. In Ontario, the Law Society Referral Service (findlegalhelp.ca) gives a free 30-minute consultation.
Is my information private?
Only you can see your answers. They are saved on your device, and in your own account if you sign in, so you can finish on another device. NextGen Docs is not a law firm and does not give legal advice.