Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
 
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The Mortgage Group®

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Rental Property Mortgage

Rental Property Financing (five units+)

Rental Property Magnifying glass

Acquiring your rental property mortgage through Super Brokers will ensure that you obtain the optimal financing option for your multi-unit rental property purchase. Rental property mortgages are available for the acquisition of newly built or used properties, and to refinance at competitive rates so that you may:

  • Free equity built in a property to put into investments or use personally
  • Expand your real estate portfolio and use funds to make a down payment on an additional property purchase
  • Renovate and increase the value of your current property
  • Add units to your current multi-family rental property to increase income revenue over time
Apply Now for a Rental Property Mortgage

Multi-Unit Investment Mortgage Requirements

A Super Brokers commercial mortgage specialist will ensure that the process of attaining your rental property mortgage is conducted clearly, efficiently and promptly.

If this is your first rental property investment, do not hesitate to address any questions you may have to the knowledgeable Super Brokers commercial team. We can put you into contact with a reputable property appraiser or inspector in your area and offer you guidance every step of your financing path.

  • Consider the following items in your application process:
  • Properties need to generate approximately $1.30 of income for every $1.00 of debt to be viable
  • The borrower’s net worth must be equivalent to at least 25 per cent of the loan amount
  • Revenue earned from the rental property must cover the operating expenses of the building and mortgage payments
  • Income generated from the property must be incurred from legal suites meeting permissible qualifications for the locale
  • Mortgage insurance will usually be required if financing is provided toward 65 per cent, or more, of the property value

Contact us today using our secure commercial mortgage application.

Our Disclaimer: Although we make every attempt to ensure the accuracy of our website, we recommend you use the above mortgage information as a guideline only. Mortgage Super Brokers makes no guarantees on product availability or the rates shown unless otherwise stated. Super Brokers always recommends that you consult a commercial mortgage broker using our online application before making any final decisions.
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Use our new mortgage calculator and strike a balance between maximizing your payment schedule and leaving yourself enough breathing room to live comfortably. By simply changing your mortgage amount, amortization period, interest rate, or payment frequency you can determine the best mortgage for your unique situation.
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Important Tip on Credit Card Debt
Credit card interest rates average at around 18.9 per cent. You, like many other Canadians, may have over ten thousand dollars charged to your credit card, but, if you only make the minimum required monthly payment of 2 per cent ($200 the first month) that $10,000 in credit card debt will ultimately take more than 57 years and cost around 40,000 dollars to fully pay off.

Using a home equity loan will allow you to eliminate the high interest credit card (and by eliminate we mean cut up) and consolidate the debt to a low interest rate mortgage payment.