Can I get a mortgage under a business name?

The short answer is yes.

Buying real estate with a corporation can protect you from personal liability and it is a great way to separate business from personal holdings.

Often these are set up to protect a consumer's personal assets in case litigation is brought against his or her business. Setting up a mortgage through a corporation can be challenging, but is not difficult.

 

You will Need

 

• Business Articles of Incorporation or Business registration
• Business financial statements
• Business account statements
• Personal and corporate tax returns
• Personal Guarantee…meaning whoever owns the business must sign off on the mortgage.
• You must be self  employed for at least 2 years or more
• Your must put down at least 10% or more as a down payment
• You and the company must have excellent credit

Also, if you are planning to buy a rental investment property it would make financial sense to put in under a corporate company to save on the capital gains when it is time to sell in the future.

Also be an informed client.

For more information contact your Toronto Mortgage Broker 

at 416-920-9931

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