Investment Property
For potential borrowers looking for an investment property, good planning and advice are key to ensuring that the Return On Investment is worthwhile and sustainable. Mighty Mortgage has access to products that benefit borrowers that are in search of investment properties, and will take the time plus effort into providing guidance.
Investment properties can be conventional or insured with a maximum of 4 units, LTV of up to 80%, and up to 30 years amortization; depending on the type of mortgage.
Example scenario:
Ken has an owner-occupied property with an LTV of 25% and wishes to purchase an investment property with 3 units. As this property will be a rental, a minimum downpayment of 20% must be made to qualify for the product.