I'm assuming the other broker was not able to get you qualified for third property? He/she may just not know which lender to take it to. I'll shoot you a PM, as per your request.ids748 wrote: ↑Oct 24th, 2018 7:16 amHello Guys,
I'm looking to get 3rd mortgage maybe a broker can help me. The broker who helped me on my last 2 deals says he couldn't help me with this 3rd one hoping some one here can help.
Property 1 - Rental - Value 395K (last month of similar units) mortgage remaining is 196 currently at prime minus (~ 2.9%). Currently 1 year left in 5 year term (rented out at $1375/month plus utilities going rates are 1600 but i can't raise it unfortunately) in [Located in Kitchener, Ontario] Purchased Oct 2013
Property 2 - Primary Residence, Value = 440/450K (last month sales of interior unit) (balance on mortgage is 226k) Prime - 0.75 2.95% currently 2 years left into 5 year term. [Located in Kitchener, Ontario] Purchased 2015 September
Property 3 - I would like to buy a single detached and turn property 2 into a rental at about $1750/month plus utilities (based on neighboring rentals and realtor appraised at 1800/month) Located in either in Kitchener Ontario or Cambridge Ontario
Any help or input would be greatly appreciated. Please PM me for more detail.
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)