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20% Down Mortgage

Most banks and lending institutions require 20% down payment for an investment property purchase. With 20% down the mortgage is conventional and no mortgage insurance is required. On fully qualified applications, you will enjoy the same low discounted rates and a vast variety of mortgage products (fixed rates, variable rates, etc) that are offered for financing on owner-occupied properties.

Most lending institutions do not have a minimum net worth requirement, however some require that you have a minimum $50,000 net worth per rental property.

You can also use from 50 to up to 80% of your projected rental income from the property to help you qualify for the investment mortgage. An appraiser will determine market rents for the property in their report.

20% Down Mortgage Example:

• Purchase price of $305,000
• Down payment (20%) – 62,000
• Mortgage of $248,000 @ 4.4%
• PI at 4.00% - $1,032
• Monthly rent: $2,000

Extended amortization up to 40 years is now available for investment mortgages. This will allow you to keep the payments low and affordable for potential tenants.

• 20% Down Mortgage
• 20% Down Line of Credit
• Stated Income Mortgage (15% down)
• 10% Down Mortgage Genworth

It is the first time I ever used services of a mortgage broker, and for sure I will do it again. I am very pleased with Lena's service, level of expertise and what I find most important, she actually delivers what she promises - no games, no gimmicks. She got me an unbelievably low rate, met with me after work to sign all the papers, and her services cost me absolutely nothing. You can't go wrong here! Thank you!

Kim J. - Calgary

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