landlord revenue property mortgage

CONSIDERING A REVENUE PROPERTY IN SASKATOON?

When it comes to a revenue property Devin & Wes from Your Mortgage Now know having options and the best rate possible are at the top of the list. We are your Saskatoon Investment Mortgage experts at making your revenue property investment a profitable one.

Since April 19th 2010, Canadian’s are required to have at least a 20% down payment on a rental property purchase.

Eligible Properties:

  • Maximum 4 units
  • New construction covered by a lender approved New Home Warranty Program
  • Existing resale properties
  • Readily marketable residential dwellings, located in markets with demonstrated ongoing re-sale demand
  • In addition, the property must meet the following criteria:
    • Municipal zoning
    • Fully self-contained units
    • Estimated remaining economic life of the property should be a minimum of 25 years

Ineligible Property Types:

  • Time-share Interests
  • Vacation Homes
  • Commercial zoning
  • Rooming Houses
  • Quarter Share / Shared Ownership
  • Rental Pools

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