Looking to get into real estate investing? There are great opportunities for real estate investing in Calgary and surrounding areas.
Canadians are required to provide a larger down payment when purchasing rental properties:
If you do not plan to live there (non-owner occupied) then your down payment will be a minimum of 20% of the purchase price.
If you do plan to live there (owner-occupied) then your down payment will be 5% of the first $500,000 and 10% of the balance up to a million.
Some lenders will allow down payments to be borrowed or gifted while other lenders will not. If you’re shopping for an investment or rental property, let me know up-front so we can work with the right lender.
DOWN PAYMENT FOR RENTAL PROPERTIES
Working with Tony over the years has been fantastic! In addition to getting us the best rates and teaching us about mortgages he also got us into mortgage products that allowed us to leverage our equity and maximize our wealth rather than slowing chipping away at huge home debt. Most recently Tony negotiated a complicated deal which has allowed us to jump into the investment property world!
A second home can not only be an excellent getaway, but a great way to begin building your real estate portfolio. There are a few things you need to consider before purchasing your second home.
WANT TO START INVESTING IN REAL ESTATE?
There are fantastic opportunities to invest in real estate in Calgary and the surrounding areas. Let's examine which opportunity is right for you!