Jared Dreyer of Dreyer Group Mortgages offers advice on Financial topics that affect Canadian loans, mortgages and investments.
Monday, November 26, 2007
Buying Rental Properties
There is now the availability to purchase rental properties with only 5% down payment. That means on $200,000 purchase price, clients only need $10,000 as a down payment. Mortgage insurer with use 80% of the rental income for qualifying. There is also the potential to go with a 40 year amortization as well. Based on the above example mortgage payments would be $1089 per month. This a great product for investors to start accumulation an investment portfolio.
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