Investment Property Mortgages in Newfoundland & Labrador

For a typical non-owner-occupied residential rental property, you should generally plan for at least a 20% down payment. Requirements can vary depending on the property, number of units and financing being considered.

Yes. Rental income can potentially be used when qualifying, but lenders may calculate and treat that income differently. The method used can have a significant impact on how much you qualify for.

Potentially. As your portfolio grows, lenders will look at your existing mortgages, rental income, property expenses and overall financial position. Some lenders are also better suited to portfolio investors than others.

Potentially. Homeowners may be able to access equity through refinancing, a home equity line of credit or another financing structure. The costs, additional debt and impact on qualification should all be considered before proceeding.

They can be. Pricing depends on the lender, mortgage product, property and overall application. Rather than assuming the lowest advertised rate applies, we'll compare the financing options available for your specific investment.

That decision can affect financing, taxes, liability and your longer-term investment strategy. Mortgage options can also differ when a corporation is involved. It's worth discussing the financing with us and the ownership/tax structure with your accountant or tax advisor before purchasing.

Potentially. Existing tenancy doesn't automatically prevent mortgage financing, but the lender may require information about the leases, rents and property as part of its review.

Yes, financing may be available for small multi-unit residential properties. The requirements can differ depending on the number of units and whether you'll occupy one of them yourself.

Yes, financing may be available for small multi-unit residential properties. The requirements can differ depending on the number of units and whether you'll occupy one of them yourself.