Investment Property Mortgage in Mississauga
If you are interested in generating additional income or making capital gains through investment property, we invite you to contact the brokers at eMortgage Solutions. We have years of experience in helping clients secure favorable mortgage products for properties big and small.
With us at your side, you’ll secure a low-interest mortgage with fully customized terms and conditions. Schedule your no-obligation consultation by contacting us at (416) 258-0156 today. We cannot wait to work with you.
What Is an Investment Property?
An investment property, also known as an income property, is real estate purchased with the intention of earning income through tenants or future resale of the property. Investment properties can be residential, commercial, or both. For individuals looking to manage a lucrative investment in a hands-on manner, income property is the best option.
If you would like to learn about rental property mortgage rates, contact us at your convenience.
Can I Get a Mortgage to Purchase My Investment Property?
Most lenders and institutions offer mortgages for investment properties. These mortgage products are residential mortgages, commercial mortgages, and mixed-use mortgages. Your eligibility for either mortgage depends on the number of units in your property and whether you’ll choose to occupy one of the units yourself.
How Much Do You Have to Put Down on an Income Property?
Down payments for income property mortgages depend on a variety of factors. Typically, the minimum down payment is 20% of the home’s value. In cases where the owner occupies a unit in the building, the payment has the potential to be as low as 5-10%.
Are Rates Higher for Investment Property Mortgages?
Rental property mortgage rates are determined by a variety of factors: down payment and current financial position. While interest rates may be higher for income properties, there is the option to obtain an adjustable-rate mortgage. With an adjustable-rate mortgage, there is a possibility that the rate of interest will decrease over time.
Do All Lenders Offer Rental Property Mortgages?
There is a misconception that all lenders offer mortgages for investment properties. Unfortunately, this is not the case. Not all lenders and institutions offer income property mortgages. Some of the nation’s smaller lenders are uncomfortable taking on the risks associated with income property mortgages.
One of the benefits of working with us is that we know which lenders to pursue and which to avoid. We will send out applications to the leading lenders, weigh the pros and cons of each option, and negotiate for the most favorable rates and terms. Our brokers will save you both time and money.
Schedule Your Investment Mortgage Consultation Today
In order to obtain an investment property mortgage through a reputable lender, you must first get your foot in the door. With us overseeing your application process, you’ll have the approval of the nation’s leading lenders. We will leverage your position as a serious, low-risk lender to secure a low-interest mortgage.
Request the services of our brokerage firm by calling (416) 258-0156 today.