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Will I have to get a mortgage insurance?

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  • adventure
    replied
    Talk to many folks, both small local banks and credit unions, and large lenders.

    Or a place online such as OnDeck (they sponsor Mike Rowe's podcast).

    Or maybe a line of credit if you just need the cash for a shorter timeline?

    Leave a comment:


  • Craigy
    replied
    Question is one for your lender.

    You could shop multiple lenders and see what their policies are.

    Commercial loans are their own ballgame.

    Leave a comment:


  • robie55
    started a topic Will I have to get a mortgage insurance?

    Will I have to get a mortgage insurance?

    I need to buy a warehouse for the storage of our construction equipment. Our current rented space is small and congested.

    We decided to buy a property on a loan. Apparently, from this online page, https://www.butlermortgage.ca/mortgages/purchase/residential-commercial-mortgages/commercial-mortgages/ I was able to understand that I can get a max loan to value of 75%. In that case, I hope I wouldn't require a mortgage insurance.

    Is it necessary to get a mortgage insurance? Please share your suggestions.

    Thanks.
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