Building wealth through Investment Properties
Buying one or more Investment properties is a great way to generate rental income and build wealth over time. If the property is rented, the rental income could greatly reduce or cover the entire monthly mortgage payments. Ideally, the rental income will continue to pay down the mortgage and build equity, and the buyer will also benefit from the long-term appreciation in property value. If you are considering building a portfolio of one or more investment properties, we can help you get the money you need – with the best possible mortgage type, terms, and rate.
What you need to know
An investment property mortgage is different from a traditional mortgage. It’s customized based on the intended use of the property being purchased. Will it be an owner occupied property, a rental property, or perhaps a vacation home?
- If you will not be living in the property, you must have a down payment of 20% of the purchase price
- Investment properties (1-4 units) can be financed up to 80% of the purchase price
- If you plan to live in the property, with tenants in part of the property, you may qualify for an owner-occupied rental mortgage which could reduce the required down payment to as little as 5%.