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Passive income may be generated with an Investment property.
Unlike a primary residence, where expenses seem to never decrease, an investment property can provide stable income for decades.
As a Level 2 mortgage agent, I help investors get a better mortgage rate on investment properties.
An investment property mortgage is more difficult to secure than an owner-occupied home loan with a conventional mortgage.
Lenders believe that a borrower with several investment properties will be more inclined to pay for a primary residence first.
To account for this risk, a stronger credit score and a larger down payment is needed to obtain an investment property mortgage.
Investors are encouraged to contact me about lenders with favourable investment property terms.
Income-producing properties are generally residential dwellings or commercial structures.
A residential dwelling can consist of single-family homes, apartments, townhomes, condominiums and cabins.
A warehouse, shopping center or an office building would be considered commercial structures.
Not sure about a property’s zoning, such as a parking garage or a church?
Call me to learn more about investment properties in Canada.
Financing is available to purchase an investment property.
Investors typically need a down payment of 20 percent or more.
An above-average credit score is needed to get a better mortgage rate for an investment property.
Gather financial documents, such as recent pay stubs, tax forms, notice of assessment and several bank statements (property rental income, if available) to share with me.
I will help you start the pre-approval process toward purchasing an investment property.
Want to change the existing terms for an investment property?
A better mortgage rate or a shift in an investor’s short-term or long-term goals may be achieved with an investment property refinance.
Refinancing could lower the monthly payment for an investment property and increase an investor’s monthly cash flow.
Assemble a folder that contains income documents for the applicant, notice of assessment, rental income for the subject property and recent financial statements.
Need to discuss the best income-producing property options?
Contact me today at 416-854-7697 for a complementary consultation.
Mortgage Agent Level 2
Mortgage Agent License / #M22000706
Address: 30 St Patrick St Unit 310, Toronto, ON M5T 3A3
Email Id
genellegeorge@nextlevelmortgage.ca
Call Us
416-854-7697
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416-854-7697
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