✅ Want a mortgage that reduces tax and interest costs
✅ Need someone to actually understand their business
✅ Report low personal or business income on their taxes
✅ Are Busy in their business and need an efficient professional
✅ Want a mortgage that reduces tax and interest costs
✅ Need someone to actually understand their business
✅ Report low personal or business income on their taxes
✅ Are Busy in their business and need an efficient professional
Hello, my name is Mike Browne and I’m a mortgage consultant. I was born and raised in Edmonton, moved to Vancouver 9 years ago with a short stint in the heart of London, UK.
My background is in financing business owners with a specialty in residential and commercial mortgages.
As a mortgage strategist, I’ve consulted for numerous small and medium business owners, freelancers, entrepreneurs, real estate investors and first time home buyers.
My first career passion was robot dancing. I made it to the olympics of the hip hop world but I needed something more mentally stimulating. I went back to the drawing board and thought back to all of the math courses I took in university. I loved the financial space, and I loved business. I started to work at TD downtown Vancouver in the finance district so I could be in the thick of it and network.
Eventually I met my first mortgage mentor, Kyle Green, who taught me everything there was to know about getting mortgages for complex situations – specifically real estate investors looking scale up their portfolio. I worked on the tough of the tough files. He gave me opportunities to speak on stage, build up a book of business, host our own real estate investing events, and we’re now working on a software for mortgage brokers called Mortgage Atlas.
Today I help business owners who are frustrated with their current lenders or brokers because they just don’t seem to want to understand their business. We’ve all been in a situation where someone doesn’t want to dig in and give the best advice. We’ve all gone to a bank and dealt with an inexperienced rep, fresh out of high-school. And we’ve all dealt with being another transaction lining someone else’s pocket.
Hello, my name is Mike Browne and I’m a mortgage consultant.
I help business owners who are frustrated with their current lenders or brokers because they just don’t seem to want to understand their business. We’ve all been in a situation where someone doesn’t want to dig in and give the best advice. We’ve all gone to a bank and dealt with an inexperienced rep, fresh out of high-school. And we’ve all dealt with being another transaction lining someone else’s pocket.
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Yes!
Even if you are a relatively new business owner or contractor, there is a mortgage for you.
Depending on your type of business, length of time operating, and your business financials, there are different options.
The list of documents you’ll need varies between lenders and their specific programs.
In general, expect to collect the following:
✅ 2 Years of NOAs (Notice of Assessments)
✅ 2 Years of T1 Generals (Including all Related Schedules)
✅ If you’re incorporated, you’ll need either 2 years of business financials statements or T2
✅ Incorporation Documents including Articles of Incorporation
During an initial call, I can fine tune the exact document mix required. This will reduce how many documents are needed. If it’s easier, I’d be happy to chat directly with your accountant to request this and give you a seamless service.
If you’re a business owner there are a few primary ways lenders review income:
Depending on the situation, one or two of these methods may be combined.
Once all documents are collected we filter for which lenders will be able to get you funded, then select the option with the best rates and terms.
In most cases, approximate borrower power is 4.5x your eligible income.
For example, let’s say you take home $50,000 per year in salary and $50,000 per year in dividends.
You will approximately qualify for $450,000 in mortgage funding.
** IMPORTANT: This is in no way a real pre-approval or pre-qualification. I HIGHLY recommend having your file reviewed before putting out any purchase offers!! **
In most cases, yes you can!
Some lenders may require that you use a Shareholder loan or claim the down payment as income if you’re buying in your personal name.
Some lenders may be open to holding the property in an operating corporation but there are not many options for that.
Yes there is.
This can be broken down further and we can discuss the difference between:
Generally, if you’re buying any real estate that is 4 units or less, you’re using residential financing. Even if you buy in a corporation.
These mortgages are usually the cheapest option and give you the highest loan size.
Commercial mortgages are very different. They typically are for commercial properties, properties that have 5 or more units, or if you have specific business needs.
When deciding on “who” will be on title, it’s important to not only understand the tax and legal differences, but also financing.
Not every lender allows purchases in hold co with residential financing. Even fewer allow purchases in op cos.
These options do exist but you need to be aware of the pros, cons, costs, and benefits.
Get started with a quick and straightforward pre-qualification process — only 30 minutes to your custom mortgage quote.
