Buying an investment property is a popular option for Canadians looking at different ways to invest their money. However, unlike the mortgage you took out on your principal residence, financing an investment property is a little more complicated. The number of units in the building and whether or not you'll be occupying one of the units are the two major factors that control what your financing options will look like. Even the average budget can comfortably afford a small real estate investment, and the benefits will likely increase as time goes on. The mortgage experts at ResCom Mortgage Solutions, Inc. can provide you with some of the lowest and competitive investment property mortgage rates rates in Nanaimo that are currently available.
With over thirty five yours of combined mortgage experience, the mortgage professionals at ResCom Mortgage Solutions, Inc. can show you just how easily you can qualify for some of the lowest investment property mortgage rates in Nanaimo, and throughout the entire region. Because of our strong relationships with dozens of the top lenders, we have several options to look at, and then present the most beneficial ones to you. With our assistance, you can invest a very small down payment to begin with, and your monthly payments can be easily manageable. With today’s incredibly low interest rates, there will never be a better time to invest that little bit of cash that you have stored away.
We will begin by looking around for an investment property, and we will consider the zoning ordinances regarding the amount of units the building will have. Many buildings with 1- 4 units are actually zoned residential, therefore the qualification criteria and financing options from our lenders are somewhat similar to that of a mortgage that you have on your principal residence. Nevertheless, buildings with five or more units are actually zoned commercial, therefore a lender will call for you to take out a commercial mortgage on it. Using a commercial mortgage, the qualification criteria is much tougher to meet and interest rates are usually higher.
Then, there is another option which is most popular with today’s smaller investors, and that is purchasing a single family home, fixing it up and modernizing it for a resale in the future. Many of these homes can actually be renovated in to vacation homes which are very popular in Canada these days. These types of loans are more accessible, thanks to our lending partners, and the interest rates on these are some of the lowest that can be found. If you’re not sure which type of property is right for you, just speak with one of our mortgage experts.
If you would like some additional information regarding the advantages of our investment property mortgage rates in Nanaimo, ResCom Mortgage Solutions would like to invite you to visit our website. At rescommortgage.com, you can begin your loan process, and leave your contact information, for a fast response. You can also call us at 855.585.2080, and speak with one of our friendly and knowledgeable mortgage professionals.Investment Property Mortgage Rates Nanaimo