Investing in a Residential Property
We also offer mortgages on Investment Properties, such as an additional home or vacation property, and are able to diligently guide you through the process and will find the most efficient way for you to finance the second property.
Residential investment properties differ from typical owner-occupied properties by requiring a larger down payment, having a slightly higher interest rate, and involving different loan underwriting criteria. A qualified mortgage broker can explain each variation to ensure there are no surprises along the way.
Before Beginning the Loan Process
Prior to initiating the application process for your investment property, vital details must be addressed: What is the type of property you want to invest in? Apartment buildings, condominiums and rental homes are all popular investment opportunities. Would you like a short-term or a long-term investment? Do you have the time to manage the property? It is important to note that being a landlord is a big responsibility and you will need ensure you are knowledgeable on the legal responsibilities and what is required from you.
Benefits of Investment Properties
Investment properties can offer many personal and financial benefits and property owners may choose to rent the property for the following reasons:
Property owners may choose to rent the property for the following reasons:
- Provide additional cash flow
- Take advantage of tax benefits
- Grow their investment portfolio
Of course, there are also risks involved meaning it is imperative to weigh the potential benefits and risks before investing. Our high caliber experts are ready to help assist you in securing an Investment Property, which will allow you to achieve your financial and investment goals.
Call Centum Dynasty Mortgages Inc. for all your mortgage needs!
Buying an investment property gives you the opportunity to take advantage of the benefit of building equity. Apply online today to experience the Centum Dynasty Mortgages Inc difference.