Investment Property Mortgages
Is a Rental Property Mortgage something that you are looking for? Rental or Investment Property Financing is one of the more difficult things to get when seeking a Mortgage for at a Bank. This is because their conservative nature.
If you own Rental Property or wish to own Investment Property this is looked at as a business. IMM Financial understands Business Financing. Whether you are looking to purchase a 2 family residence or a 100 family residence we have programs that can get your Rental Property Mortgage done.
Some people dream of being a landlord and Purchasing Real Estate for the purpose of renting. Whether it is a family dwelling or a Commercial Property so that it can be leased to businesses, can build a Real Estate Portfolio for the owner which can be a retirement fund or a legacy to leave behind to loved ones. The biggest problem most times is getting funding to make that dream a reality. Because of the perceived risk factor. The loan to value ratio for a property to be rented is generally quite conservative. Due to this fact, even if you have good credit, an Investment Property Mortgage can still be a challenge. This is because the lender will want to be sure you will be able to make the mortgage payment each month, regardless if your Rental Property is vacant or fully rented.
With our Non-bank Programs, getting that Investment Property Mortgage will be more attainable that those offered by your neighbourhood bank. It will need to be demonstrated that you will have the ability to cover the loan using historical revenues from the property you wish to purchase and/or other income sources. Let’s face it, if you were personally lending the money yourself to someone, you would also want to be sure that the borrower has the ability to make the payments so your could recover the funds lent. Right?