A new purchase for this small business owner reflects their newfound professional success in the fitness and nutrition industry. The incorporated BFS owner has two years of experience and recently acquired a second business location to amplify growth.
The property, a beautiful two-storey home in Amherstview, ON, is the perfect place for this young entrepreneur to continue investing in their real estate portfolio.
Approval using bridge financing, BFS sustainable income, and excellent credit came with an 80% LTV.
Bridge financing provides a temporary loan to help clients bridge” between selling a current/existing home and buying a new one. It allows you to use the equity as a down payment.
Bridging solutions are available on both MCAN Precision and MCAN Discover mortgage solutions, with fees applicable as follows. A $300 fee for MCAN Precision and a $500 fee for MCAN Discover Alt with a 8% rate.
Ask your mortgage broker or BDM for details.
