http://mortgagelocator.ca/
In this video I explain why properties with multiple suites (more than 4) are considered commercial properties. There are a few quirks to this rule, and ways around it, and I explain this in detail. I also cover off what the designation of "commercial" or "residential" means in terms of the down payment requirements, appraisal requirements, and environmental study requirements.
I someone you need to talk to who is constantly struggling to get a commercial mortgage. His Mortgage Broker keeps dropping the ball. I will send him your way. Thanks!
BeautyFinish 2 years ago