Are you looking to purchase an investment property? If so, Mortgages of Canada can help you determine what you can afford and provide you with solutions that will help you achieve your investment goal. You may be in a position to use the equity in your current home to help you with your purchase.
Investment Property Options Include:
1) Rentals or Income Property.
2) A Second Home or Vacation Home.
3) Commercial Office.
4) Retail Space.
5) Property to Flip.
Buying a property to rent out can be a great investment. It could appreciate in value and offer a steady monthly income that you can use towards your current mortgage, your retirement fund or just as extra income.
A property flip is another popular type of investment used by many homeowners. The goal behind a flip is to make a profit on a property that is undervalued in the market. The home could be priced low due to the financial distress of the owner or because the property is in need of renovations.
Down-payment requirements will vary between lenders for each property so it’s important to do your research before settling on an investment property.
Not sure where to start? Talk to one of our Mortgage Brokers who can help you decide whether an investment property is right for you.