Are there investment loans (mortgages) where you do not have to have income to cover?

by Steve Smith
(Burlington)

I recently left my executive employment (ie no regular income) and am getting involved in real estate investing. I am wondering if there are mortgage products available where I can put 10% - 20% down on a rent to own investment property? if not, is my only other alternative to purchase the property in full? I have read your articles and book and understand the significant reduction on ror.

Thanks,
Steve

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May 24, 2016
by: Tom

Hi Steve,

Thanks for the question!

Almost all banks have 20% down payment programs for investors. For buildings CMHC even has insured products at 15% down. A good mortgage broker might be super helpful, find one that works with investors as they'll be the most helpful to you.

- Tom.

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