Equity Lending

[Robert Gunther]

It came as a bit of a shock a few months ago when I contacted a mortgage broker about financing, using equity in a property to secure financing.... it is just not possible with traditional banks in Canada anymore.

One broker actually gave the example that if I had 10,000,000 in equity I could not even get financing for a single dollar.  Blew my mind.

I talked to some private lenders, they only want to do 1 year, interest only.  That might work for flips, but I want longer term more traditional funding.

I am aware of arms-length RRSP  mortgages and that works, but you have to find someone who has funds to lend.  There is no RRSP mortgage forum that I know of, would be cool  though.

What financing options are available to borrow against equity?