Purchase a Single Family Bungalow & Partial Conversion to Become a Day Care Centre

Purchase a bungalow and day care conversion in Ontario

Trouble at Closing

A couple was looking to purchase a bungalow for their primary residence but they also wanted to turn the east wing of the house into a home day care facility.

The husband works as a self-employed contractor and his wife has been running a home-based daycare business, so they had experience in these areas. They needed funding to purchase the house and set aside some renovation budget to rework the interior of their new home. Their DIY renovations budget is focused on making the old place newer inside and more “child-friendly” for the day care section.


  • Their existing lender backed out on the closing day. This couple was left scrambling to find an alternative lender to close the deal.
  • The husband source of income has been inconsistent in the past two years.


South Bruce Peninsula, Ontario

Property value







The couple managed to push back the closing day by four days, and our private mortgage lender funds the deal on the new date. The mortgage is for a 1-year term that becomes Open after 4 months.

Exit strategy

Refinance the property with a conventional lender at the end of the term based on the expected increase in valuation after the renovation and income from the day care facility.
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100 Consilium Pl Suite 200,
Scarborough, ON M1H 3E3

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