I want to know more about this company offering institutional mortgages in Canada. I run a daycare since 2015. I have started it with 3 kids and my home was enough for them. Then as the number increased, I designed a new building near to my home. And I secured a mortgage for the same.
Now, most of the parents are interested in joining their kids at smart tech daycare. So, I must do something which would attract them. And I am planning to renovate the building. This is my second mortgage for business.
Is it easy to get qualified for a second mortgage? Is the cost and interest of a second mortgage much higher than that of a first mortgage? Should I consult the same broker for a second mortgage? Or can I approach some other brokers offering institutional mortgages in Canada?
Please share your suggestions as soon as possible. Thank you!