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Blanket Mortgages

A blanket mortgage is a type of financing that can be used to purchase multiple properties at once. In Ontario, a blanket mortgage is often used by investors who are looking to purchase a portfolio of rental properties or by developers who are planning to build a number of homes or condos.

With a blanket mortgage, the borrower takes out a single loan to cover the cost of multiple properties. The properties serve as collateral for the loan, and the lender has a lien on all of the properties in the event of default.

One advantage of a blanket mortgage is that it allows the borrower to simplify their financing by consolidating all of their loans into one. This can make it easier to manage cash flow and reduce administrative costs. However, it's important to carefully consider the terms of the loan and the risks involved, as a blanket mortgage can be more complex and potentially more risky than a traditional mortgage on a single property.

If you're considering a blanket mortgage in Ontario, it's a good idea to work with a mortgage broker or financial advisor who can help you understand the pros and cons and find the right financing solution for your needs.

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