Investment Property Mortgages


a) Extended Amortizations of up to 35 years, with Variable, Fixed and Adjustable Rate Mortgages Permitted

b) Very good rates, very close to the best if not the best

c) Up to 80% LTV for a 1-4 unit Rental Property

With the Investment Property Program, borrowers can:

a) Enjoy the convenience of one monthly payment and one mortgage, have the ability to purchase an investment property in a cost-effective way

b) Benefit from NO application fees and competitive interest rates

c) Enjoy the payment flexibility that comes with extending your amortization and refinance or purchase an investment property up to 80% LTV

Traditional - 20% Down Payment Investment Property Mortgages

Purchasers have a variety of options available to them when buying a rental or investment property when they put a minimum 20% down payment. With twenty percent down, the mortgage is conventional and therefore, no Mortgage Insurance is required.

Mortgage Rates

Typically, many lenders will offer their best rates.

Best Rental Product

If you have good income and good credit, and if you have 20% to put down, you also qualify for a 35 year amortization.

Net Worth

The requirement for a minimum net worth varies from one lending institution to another. Some require that you have a minimum $100,000 net worth per rental property, although, most lending institutions do not have a minimum net worth.

Debt Coverage Ratio

The ratio for debt coverage requirements varies from one lending institution to another. Certain institutions will use 1.10% debt coverage ratio, while others will rely on rental off set for qualifying purposes. The 1.10% debt coverage ratio is arrived at by dividing the Net Operating Income by the Debt Service.

Rental off set refers to when a lending institution uses seventy percent of rental income and off sets it against the P.I.T. Only the shortfall will be included in the Debt Ratio and if there is a rental surplus, it will be added to the client’s income. For example, assume a rental property with a rental income of $2000 and P.I.T of $1432. We will take 70% of the $2000 income, which equals $1400, and deduct this amount from $1432 P.I.T. Only the $32 shortfall will be added to the Debt Ratio.

Kelowna Mortgage Brokers

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  • Mortgages for Self-Employed People
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  • Refinance and Debt Consolidation
    It is possible to refinance up to 80% of the value of your home without relying on CMHC! Thanks to the major appreciation in housing prices during the past 7 years, a variety of consumers have been able to take advantage of certain ... More
  • Renewals and Transfers
    To transfer your mortgage from one banking institution to another, there is no cost, no penalties, no appraisal fees and no legal work, as long as you are at the end of your mortgage term. Even with all of these benefits, mortgage renewals are ... More
  • Equity Based Mortgages
    Equity based mortgages are a great option for those who have a damaged credit history or are unable to prove income. If you can provide a large down payment or if you have equity in your current home, there is still an opportunity for you to own ... More
  • Cash Back Mortgages
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  • Home Equity Line of Credit
    A Home Equity Line of Credit or HELOC is the process of using the equity in your home to get a secured line of credit. With a Home Equity Line of Credit, equity can be released to be utilized for any purpose. It may even be used to establish a ... More
  • Construction Mortgages
    Mortgage Options There are a variety of new kinds of construction financing available. Building a home can be a complicated endeavor; therefore, your mortgage should be simple. Basically, there are 3 categories of construction ... More

Kelowna Mortgage Brokers

Kelowna Mortgage Brokers
1290 St Paul St #316
Kelowna, British Columbia

Phone: 250.469.9176