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How can I apply for a mortgage on a property I like to purchase if I still have`t sold my condo?

 
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What happens if the bank denies a mortgage due to the fact that my condo is still not sold?
0     In Mortgage Cont.18

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    Q. If i purchase a condo for a long term should i lock my mortgage for 5 years?


    35 year amortization is available from most lenders. If you would like to speak to someone about more info please call us. Abraham Niyazi - Mortgage Agent - Easyrate.ca - 416-993-4082

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    Q. Can i deduct property tax and mortgage interest on my investment property which is a condo i am renting?


    Yes, you can deduct mortgage interest as well as property tax and maintenance from your investment property in Canada. If you own multiple units and you are the one managing them you should also open a property management company and charge your properties a management fee which is also tax deductible.
    Someone said: What if the property is held outside of Canada in another country such as Ecuador?

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    Q. If i want to purchase a home which i found on fsbo website and the agent is not involved can i apply for a mortgage if the home was not on mls?


    Yes you can but there may be additional information needed. Your mortgage professional should be able to prove that this is an "arms length" transaction meaning the seller and the buyer are doing the negotiations and bargaining without one influencing directly the other party through blood relationship or extended degree of relationship, ie. this is not a sale within family members. The purchase and sale agreement needs to be crisp to get a mortgage that is not MLS. Also,. an appraisal may be needed especially if the price does not make sense.

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    Can you help us by answering one of these related questions?
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