What is your current rate and what are you being quoted?

This is a self directed RRSP or TFSA account that allows you to lend your money out to people with the backing of their mortgage for a high interest rate. 1st, 2nd, 3rd mortgages, down payments, refinances, flipping or renovation money.

$200,000 in 401K, rental mortgage payoff is $130,000.

Raising your credit score will get you far better rates personally as well as with private lenders for your LLC. 

I'm quickly learning that getting a mortgage isn't a simple task.

A HELOC comes with a variable interest rate and all signs are pointing to no further Fed rate cuts in 2025 - and there may even be rate increases.- So, you may want to consider locking in an interest rate via a 2nd mortgage.Do you have reserves for unexpected expenses?

The monthly payment is only ~$720 and the interest rate is fixed at 8% fully amortized with no balloon. 

Is your income considered variable in nature depending on job sites and that you do not work a set amount of hours per week?

The Fed rate cuts will eventually help bring down mortgage rates.

Hey Patrick, You can easily do a 1st mortgage refinance or 2nd HELOAN DSCR Cash out while keeping title to your property held in an S-Corp.