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  1. #1
    Join Date
    Oct 2018

    Planning to buy a new flat...

    My mom and I own a home in Toronto. We have a joint loan of $200k. I'm paying for it as I don't want to strain my mom.
    I've found a flat, I'm planning to buy it. The issue is I'll be only getting the fund in two or three months. But the flat owner is kind of trying to sell it at the earliest. To find the fund I've only two options, either taking a second mortgage from our old home or taking a bridge loan.I'm not a banking person. Please help me to choose the best option. If you've any suggestion, ping me here.
    Many thanks!

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  3. #2
    Junior Member
    Join Date
    Apr 2019
    Skip this variant.

  4. #3
    Junior Member
    Join Date
    Jun 2019
    if you are confident then good luck

  5. #4
    Junior Member
    Join Date
    Jun 2019
    If your second loan will and can be approved I don't see a big problem. But only do it if you are sure that you can pay 1 big loan and it will not make a problem for you. In general I understand what you mean when you found a property that you fell in love with and just want to get it. For example I am buying property in Germany in 1 month and can't wait to move in already.


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