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Updated 3 months ago on . Most recent reply

Damian LaGrange's profile image
Damian LaGrange's profile image
Damian LaGrange
  • Investor
  • from Red Deer, AB
  • Member since Oct 27, 2024
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Damian LaGrange's profile image
Damian LaGrange's profile image
Damian LaGrange
  • Investor
  • from Red Deer, AB
  • Member since Oct 27, 2024
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Damian LaGrange
  • Investor
  • Red Deer, AB
0
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8
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Buying & Selling Real Estate

Vendor take back mortgage in Canada

Damian LaGrange
  • Investor
  • Red Deer, AB
Posted

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.  

  • Damian LaGrange
    • Calgary, Alberta
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