INVESTMENT PROPERTIES

A summer oasis or an income generating apartment - investing in real estate can be simple.

Second home/owner occupied.

Are you planning to buy a new home without selling your current one? Investing in a home for your kids to live in while they are off at school, buying the perfect next home before finding a seller for your current one, or buying your new home while keeping your first as a rental? There are some important factors to consider, and I can help!

  • To qualify, we will need to prove to the lender that you can carry both the mortgage and the carrying costs of both properties

  • Rental income is considered with a lease agreement if you are renting your first home

  • Most often, a second home requires a down payment of 20%, but if both properties will be occupied by immediately family members rent-free, you may be eligible for a high ratio option (as little as 5% down). Note: High ratio options do not apply to cottages or recreational properties.

 

Vacation properties

We all dream of a cozy cottage hideaway to spend our summers away from the bustle of the city. If you’re ready to take that plunge, I can help you finance it. Securing funding for a vacation property is very similar to a second home, but with a few specifics to consider. Lender policies tend to be stringent around which types of properties they approve. They look for things like:

  • Quality properties with year-round road access

  • Residential-standard water and septic system, electrical and heating

  • Used for recreational purposes

Lender restrictions vary around short term rental when you are not using the property yourself. It’s important to find the right lender for your needs to ensure you can make full use of your new hideaway as planned, and I have strong relationships with the best of them!

 

Rental/income properties.

Investing in income properties is a prudent way to build your investment portfolio, enjoy tax benefits, increase your monthly income and support your overall wealth. Whether you are a real estate professional or just a smart investor, I am here to help you purchase your first investment property or your fifth! If you are planning to make your first rental purchase, some things to keep in mind:

  • Rental mortgages require a minimum of 20% down payment. However, some lenders will allow for a portion of this amount to be borrowed from existing equity or the bank of mom and dad.

  • Not all rental mortgages are created equal. Depending on the lender and the product, the way rental income is considered varies. I will help you choose the mortgage that gives you the most borrowing power with the least overhead.

  • Consider that if you invest in a multi-unit rental and live in one of the units, it could be considered owner occupied and get you a better rate with more flexible terms.

If you are ready to start your real estate investment journey, schedule a call today!