Investor Mortgages
Prices have slowed down, and investors are back looking at the market.
What’s your advice for investors who want a mortgage to purchase an investment home?
So we offer investor mortgages for people looking and buying those investment properties. So it’s coming in and chatting and, really understanding, what’s the ultimate goal with this property? Because we can look at incorporating some of the rental potentials for that property.
As part of your income coming in, which would also help with the debt servicing, it’s looking at what kind of renovation or type of revenue generation this property can bring in and how that fits into your overall plan.
As an investor, is there a minimum down payment they need?
Typically we look at 20% down in that case. And that can come from either savings, or we’ll have clients that will look at taking out equity on their current property to put that towards the down payment of the new investment proper.
And if they had a couple of investment properties, could they take the equity out of them? Could they chain that along?
Absolutely. And that’s where people start to build that portfolio of properties: buying that first property, pulling out some equity, then buying that next property, and then moving forward.
Ready to start your journey in real estate investment? Contact us today. Let’s turn your investment goals into reality!
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