The Problem With A $2,000,000 Mortgage For Your Principal Residence

For people on the West Side, West Van and parts of North Van, having a $2,000,000 mortgage is almost normal. 

Generally speaking it's "easy" to get a $2,000,000 mortgage for their principal residence.  There are self employed equity programs that can address these types of mortgage amounts.  

The problems occur when they want to purchase a $1,000,000 rental or in some situations $3,000,000 rentals......now that I'm thinking about it, I had one client purchase a $4,000,000 rental last year.

The problem is they have to qualify not only for the new $1,000,000/$2,000,000/$4,000,000 rental, but also re qualify for their current $2,000,000 mortgage.  

In 90% of the situations, this kills the deal instantly.

Is there a way around this?

Yes and it all comes down to planning your financials around the exact property types you want to purchase.   

Who can do this?

People who own businesses and run everything through corporations.