Yes! It’s True. We Can Do 5 Plex As Residential Mortgage!

Normally any property with more than 4 living units is considered Commercial not Residential. 

If you like the idea of owning a rental this is a perfect mortgage option for you. 

For purposes of multi-unit Lending the following guidelines apply:

• Debt Coverage ratios as low as 1.1
• No Gross Debt Service qualification just 40% Total Debt Service applies
• 5 Plex up to 75% loan to Value
• 80% Rental offset if Mortgage is CMHC Insured
• Beacon over 680 TDS up to 44%
• Borrow up to 95% LTV for Single Family dwellings
• Borrow up to 90% for 3 & 4 Plex
• Finance in a company name up to 65% loan to value
• Leaser agreements will be required for approval

There is no time like this to consider a rental property, especially in Durham Region, house prices are still comparatively low and demand is steady.

Call us to discuss your personal opportunity to own a rental property today!

Elfie Hayes as seen on the CTV National News, Rogers TV, published in RENO & Décor Magazine and profiled in Canadian Mortgage Professional Magazine.

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