Vendor take back mortgage in Canada

[Damian LaGrange]

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.