MORTGAGE TYPES
Investment Property
CONSIDERING A REVENUE PROPERTY IN SASKATOON?
When it comes to a revenue property, Devin & Wes from Mortgage Now Inc. 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.
Did You Know?
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
The 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
