Updated over 18 years ago on . Most recent reply
canadian broker
Hi, sorry if this has been answered before or I'm in the wrong section, but I couldn't find my answer using the search option.
I have 3 rental properties in Nova Scoita, Canada. I work at a Credit Union so I have my 3 mtg there. I have hit my max debt ratio since I have 3 mtg on my personal side of things. I want to start a limited company and switch the mtg to the company. This can be done at the Credit Union Commercial Dept but they will only finance 65%. I only have about 20% equity in the properties, since I've only had them 5 years or so and put as little money down as possible. I'm looking for a broker in canada to give me some ideas of what they can do and what options they have for this situation. I'm not looking for anything set in stone, just come basic industry average interest rates and finance % for canada. I seen alot of talk in the USA market, but not much for canada.
Any help would be great. Sorry again if this is in the wrong section.
Stephen