Buying a Rental Property - Question 1

1. Do you have enough saved for the down payment?


Under Canada's new mortgage rules, you must come up with a down payment of at least 20 per cent for a small rental property holding from one to four units. This rule does not apply to borrowers whose principal residence also includes rental units.

Stay tuned for question 2 tomorrow...

 

Source: Canadian Living

Walter Warford

Walter Warford

Sales Representative
CENTURY 21 First Canadian Corp., Brokerage*
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