At Ontario Mortgage Expert, our expert Toronto agents understand that a property isn’t always bought in order to make it a home. Sometimes, there’s a bigger plan in mind, such as furnishing a cozy second home or even sinking resources into a lucrative investment property.
For some, the joy of owning a home is just plain addictive. That’s why they purchase second properties. It’s a whole new palette to play with, resulting in a weekend-escape cottage or seasonal getaway that’s always waiting. A number of financing tools at our disposal can help you secure a mortgage to help you afford the vacation home of your dreams.
Sometimes, though, it’s not always your vacation dreams that you’re aspiring to fulfill. A second property can often be turned into an investment that creates lucrative streams of extra income, both through equity and leasing it to other vacationers. As of April 2010, a 20% down payment is required for all buyers of Canadian rental properties. The attractive terms available make it a very worthwhile investment.
- Available in Fixed, Adjustable-Rate, or Variable-Rate products
- Up to 80%-value mortgages or refinancing available for properties of 1-4 rental units
- Up to 35-year amortizations
- Cost-effective, convenient mortgages with a single monthly payment
Ontario Mortgage Expert agents are waiting today to provide you with a no-cost consultation that will open your eyes to the possibilities of owning a second property, for fun or for profit.