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Updated almost 4 years ago on . Most recent reply
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B lender mortgage broker Ontario Canada for self employed
A question for my fellow Canadian investors here.
I am in the look for creative hard working mortgage broker for my next rental property in Ontario.
so far 6 application denied but I keep going because I feel this is possible with the right broker.
here is a bit more info...
1 I own one prime resident in Toronto and one rental duplex in Barrie Ontario. mortgage on both and both has significant equity .
2 I have proof of funds and 20-25% down payment ready
3 credit score is great.
4 I have a real estate investment corporation in Ohio generating decent income from flips in 2020 and 2021
5 stated income in Canada very low
6 looking for a b lender to buy a property in the 400-500k range. private money is not an option because i want to hold
for at least few years.
would love to hear your feedback . any ideas? any suggestions how to make it happen? any recommended brokers specializing in self employed?
Most Popular Reply
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@Tyler Stiller is fantastic at what he does, I'm sure he can help.
Additionally, have you ever given any thought to commercial lending instead of a "B" lender? It works a lot better for those of us who are self employed and do not have traditional means of income verification as it is more based off of the income that the asset produces, instead of focusing on your own income. Something to keep in mind anyways.
Happy investing! :)