24 October 2011
Can you buy a rental property and secure a mortgage with no money down?
Answer- yes you can. if you have equity in your current home.
Lenders will allow you to borrow up to 80% loan to value for a conventional mortgage and 85% loan to value for an insured mortgage.You can then take that money from your home and put it as a down payment on the investment home. We then arrange a mortgage on the investment home as well. You have now bought a rental/investment home with no money out of your pocket. In addition the money you borrowed against your home can be a tax deduction. Please always check with your accountant on those details.
Get a mortgage for a rental / investment property.
Apply now to find out how much you will qualify for. Or call our office at 604 536-3802
