Lending in Ontario, Canada

5 Replies

Hey everyone! Im on the search for private or hard money lenders in Ontario for flips in BRRRR investing. Know anybody or have any recommendations?

Thanks

Call all of the Kijiji ads for "Sell your house fast", etc. They deal with the HMLs in your area and can likely hook you up.

I believe that the best lenders are the ones that you know personally and believe in you as a professional who will make them money.

@Colin Armstrong , if you have 15% down, a mortgage broker may be able to help you. Those lenders are often happy to keep the debt alive for as long as you like, so you aren't under pressure to refinance in a set period of time.

Originally posted by @Jon Kepler :

@Colin Armstrong , if you have 15% down, a mortgage broker may be able to help you. Those lenders are often happy to keep the debt alive for as long as you like, so you aren't under pressure to refinance in a set period of time.

Does it really make sense to pay 5% less down than pay 2% CMHC on the loan?

@Hai Loc , I personally avoid CMHC, but there are good points to be made on both sides. I'm not sure one side is drastically better than the other.

Aren't flips & BRRRRs two different things?

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