Down Payment Required For An Investment Property

Mortgage lenders usually require a 20% down payment to purchase an investment property. However, there are mortgage programs that allow borrowers to purchase second homes, such as cottage properties or housing for children studying away from home, with as little as a 10% down payment.

Maximum Mortgage Amount for Investment Properties

When purchasing an investment property, lenders will finance up to 80 per cent of the property's value or up to 90 per cent of the loan to value if the property is being used as a second home.

Refinancing Your Existing Property To Buy An Investment Property

To finance the purchase of an investment property, you can refinance your existing mortgage to access the down payment or equity required. Alternatively, you can obtain a home equity line of credit (HELOC) on your primary residence to fund the down payment on your investment property.

​I can help you understand what is required in order to successfully purchase and manage an investment property while at the same time ensuring you obtain the best mortgage rate on the best terms. Give my office a call today to discuss your next purchase at (647) 773-4849

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Apply today and we'll book a strategizing appointment to help you explore your financing options. Whether you're looking to refinance your existing mortgage or obtain a HELOC on your primary residence, our team has the knowledge and expertise to guide you through the process. Don't wait, contact us now to schedule your appointment and start building your investment portfolio today.