Real Estate

Mortgage: Personal vs Small Business

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  • Mar 28th, 2022 7:13 pm
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Mar 25th, 2022 1:59 pm
Angela2020 [OP]
Jr. Member
Aug 11, 2020
127 posts
58 upvotes

Mar 25th, 2022 1:59 pm

Mortgage: Personal vs Small Business

Holdco bought a precon condo that is closing soon and intended to rent. Seems like mortgage rate for business is generally higher than personal mortgage. What are some other differences? Thanks.
Last edited by Angela2020 on Mar 25th, 2022 4:15 pm, edited 1 time in total.
5 replies
Mar 25th, 2022 2:21 pm
jkwan18
Sr. Member
Feb 23, 2005
958 posts
76 upvotes

Mar 25th, 2022 2:21 pm

Angela2020 wrote: ↑ Holdco bought a precon condo that is closing soon. There is adequate funds but looking to mortgage it as it will be a rental. seems like mortgage rate for business is generally higher than personal mortgage. What are some other differences? Thanks.
You need to be connected to the right mortgage professional. There are lenders that provide mortgages in a holdco with rates that are similar to normal mortgages under personal name.
+2
Mar 25th, 2022 5:50 pm
hybridfx2
Member
Jan 19, 2009
335 posts
257 upvotes

Mar 25th, 2022 5:50 pm

Some lenders will also require a personal guarantee depending on the situation
Mar 26th, 2022 3:05 am
kangarooz
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Apr 12, 2013
2924 posts
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Moon

Mar 26th, 2022 3:05 am

jkwan18 wrote: ↑ You need to be connected to the right mortgage professional. There are lenders that provide mortgages in a holdco with rates that are similar to normal mortgages under personal name.
This, holdcos are the secret to unlimited RE scaling, get connected to the right people who can get a good rate to you.
Koodo, Public Mobile, Lucky Mobile Customer
Mar 28th, 2022 3:59 pm
Angela2020 [OP]
Jr. Member
Aug 11, 2020
127 posts
58 upvotes

Mar 28th, 2022 3:59 pm

jkwan18 wrote: ↑ You need to be connected to the right mortgage professional. There are lenders that provide mortgages in a holdco with rates that are similar to normal mortgages under personal name.
like a mortgage broker?

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