Vendor take back mortgage in Canada
Hello fellow Canadian investors. I’m trying to structure a vendor take back mortgage. I’m guessing there must be differences in the terms in Canada vs USA. I am planning on 20% down , then a fixed payment based on current typical rates for the next 5 years, then a balloon payout at the five year mark. Does this sound right? I will confirm with my lawyer and accountant when it comes time, but I thought I should hear what other investors suggest.