Rental property mortgages help you with the purchase of investment properties. They offer cash flow, leverage funds and obtain an appreciating asset. I have helped many property investors with rental property mortgages at rates that they didn’t even know were possible for rental properties.
You will require at least 20% down payment in order to qualify for a rental property mortgage. If your preference is for apartment buildings or buildings with more than 4 residential units, please see my commercial mortgage page.
Rental property mortgage requirements will vary depending on the lender and the property you are purchasing. I have some lender options that (in theory) do not require personal income at all. However, the property’s income will need cover the payments on the mortgage.
One item of note is that it is easier to finance homes with all legal units as opposed to unauthorized or illegal suites. However it is still possible to finance a home with illegal suites. Rooming houses are extremely difficult to finance and manage and should be avoided.
Another noteworthy item is (as much as I love the Vancouver area) that buying rental properties in the Vancouver area is difficult due to high prices and relatively low rents. Properties may not appreciate in value as quickly outside the lower mainland as in Vancouver but the cash flow will be better.
These guidelines to rental property mortgages are very general in nature, and are often changing, and it is a good idea to discuss your specific needs with me in order to determine what you can do with regards to rental property mortgages. Call me today and I would love to sit down and discuss with you how to grow your property investment portfolio.
5 out of 5 stars
Very informative, friendly and helpful. Deiftantly would recommend him to friends
Jeff was very helpful and efficient in helping us secure our first mortgage. We are new to the real estate market and Jeff made the process simple and comfortable for us. He was quick to respond whenever we had any questions, and was reachable through text, email, and phone calls at all hours of the day. Highly recommend his services.
Jeff Evans did not stop until I got approved ..he tried so many lenders and most of them said no but Jeff never gave up !! He worked day and night constantly on my file. And finally someone said yes ...all because of Jeff's determination !! Being an immigrant and a single mother of four kids I never thought I'd be a house owner but my the grace of god Jeff was able to make my dream come true . I highly recommend this guy !!! Give him a try you'll never be disappointed . Thanks Jeff for all your hard work because it paid off !!!🙏🏽😊😄
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