Equity Loan from a Commercial building be used for Single Houses

[Jin Park]

Hi BP forum,

My father has fully paid off his commercial building mortgage recently, so his Corporation has now 100% equity on this property. Is it possible to apply for an Equity Loan off this commercial building and use the loan to fund the multiple downpayments that my brother and I may need to buy multiple Single House real estate properties? We are planning on getting conventional loans for these properties.

I am not sure how this will impact my father's corporation tax filing or any other financial status.

Best,

Jin Park