VACATION HOME PURCHASE WITH CORPORATE INCOME QUALIFICATION

Designer Capital worked with our clients to refinance their condo (Primary Residence) for down payment on a Vacation Rental purchase.

Our client was referred to Designer Capital as he had not taken a personal income draw from his corporation (newly self-employed, less than 2-year tenure) and wanted to purchase a Vacation Rental in a Hotel Resort Apartment style condo building. The client’s main banking institutions were not able to assist as the client had not drawn any personal income from his corporation for tax planning purposes, and recommended the client revisit the purchase in 1-2 years after establishing a long tenure with his corporation and taking personal income.

Working with our exclusive Alternative Lending and Commercial Banking partners, Designer Capital was able to provide this Novel Financing Solution:

• Refinance – Primary Residence (Condo)

  • Mortgage Amount: $604,000 (80% of appraised value)

  • Competitive Alternative Lending rate

• Purchase – Vacation Rental (Hotel Resort Condo)

  • Mortgage Amount: $479,925 (80% of appraised value)

  • Commercial/Small Business Banking solution

Designer Capital’s Unbiased Advice allowed the client to refinance his Primary Residence and purchase a Vacation Rental with the maximum Loan to Value that was requested. Our advice allowed the client to pursue his purchase without drawing personal income, resulting in huge tax savings for the client. Through our experience with Alternative Lenders and Commercial/Small Business Banking, Designer Capital was able to create a solution for the client to achieve his goals and retain his earnings in his corporation to minimize his tax burden.