Purchasing Rental Properties

Most banks and mortgage lenders require a down payment of 20% when buying a rental property. In some cases you can put as little as a 10% down payment (with higher than normal interest rates). To be approved for a rental property mortgage at a major bank; you will need to have good credit, good income and the right property.

Now is a good time to buy a rental property as rates are still very low historically and the values of homes are still reasonably low. In most cases we can provide the next to best rental mortgage rates if not the best rates available today.

Eligible Rental Properties

Most properties that are not on leased or rented land

Amortization Options

>Up to 30 years for closed rate mortgage
Up to 30 years for variable rate mortgage
Up to 25 years for Home Equity Line of Credit (HELOC)

Borrower Qualification

Good Credit history
Down payment to from own resources (saved or can be from another property equity)