Canadian lender roadblocks

[Jason Dasanjh]

Hi Everyone. I am new to BP and am looking for some suggestions or guidance. I have 4 properties under my name (1 primary and 3 rental properties). I use a mortgage broker who has been great thus far but now he is telling me my debt to income ration won't allow me to borrow anymore at this time.  

I would like to keep growing my portfolio but do I need to pay down some of these properties and earn more equity first? Has anyone else run into a roadblock from lenders?  I am in Surrey BC.

Thanks! any advise or guidance is so appreciated. Very excited to be part of the BP community.

[Tyler Stiller]

He’s probably saying that with A lenders. 

Talk with a broker who is familiar with B lenders, they can use 100% rental offsets which makes your ratios amazing. The only problem with B lenders are there’s a 1% lender fee and up to 1% broker fee. But it allows you to grow. 

Rates aren’t terrible, and you can in some cases get up to 35 year amortization, which helps the debt servicing ratios 

If you want some help feel free to PM me. I can get you in with a B lender in no time.