Tag Archives: Buying a Rental

Toronto Residents Forced to Rent

The Department of Finance seems to be getting its wish of reducing the amount of mortgage debt, but is it in the best interest of Canadians?  MLS data revealed that the number of Toronto condos leased in the first quarter of this year soared by over 31 per cent compared to the same period last year.  Alternatively, the number of new Toronto condos sold in the first quarter of this … Read More

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Higher Mortgage Rates for Rentals

Buying a rental property may not be as good an investment as you think.  When calculating the benefits of owning a rental property many Canadians will assume that the mortgage financing is the same as if you were buying a residence.  This is not the case.  Mortgages on rentals require bigger downpayments, higher incomes and they often come with a higher mortgage rate. It wasn’t that long ago that you … Read More

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Buying a Rental Property

Buying a rental property isn’t what it used to be.  With government rule changes and lenders looking to increase their yields, rental properties have become more difficult to finance.  To start with you’ll need to put down a minimum of 20% of the purchase price and will likely pay a premium on the mortgage rate. Mortgage lenders qualify borrowers one of two ways when financing a rental property.  Under the … Read More

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