Can a mortgage be used for purposes outside of purchasing a home? (Ie., Investing)?
I am looking to get ahold of around $ 300,000CAD as a loan to use towards an investment. The term is around 2 years so although I don’t have that kind of money on me right now, I would be paying the loan off in 2 years when the investment matures. Taking a mortgate would be a great way to do this as I would only be paying roughly $ 2000 a month and paying off the principal when my investment matures. Can a mortgage be used for this purpose? If not, what other alternatives might work?