Investment Properties

Home › Investment Properties

Investment Properties

When it comes to investment properties, whether you’re looking for rental income or future resale potential, having a solid plan is key. With investment properties, you’ll typically need a 20% down payment to avoid mortgage default insurance, giving you more flexibility and saving you money in the long run. At Benson Mortgages, we understand the importance of making informed decisions, which is why we’re here to guide you every step of the way.

Apply Now

With a 20% downpayment CMHC insurance premium does not apply.

At Benson Mortgages you never pay application fees.

Do your due diligence and research.

Extended amortization options for up to 30 years.

We offer our clients a single mortgage and a simplified monthly payment structure.

Choosing between a variable and fixed mortgage rate? It all boils down to your situation, risk tolerance, and economic factors. Ultimately, your choice depends on your financial goals and comfort level. Chat with a mortgage advisor to make the best decision for you!

Fixed Rate:

Provides stability with a constant interest rate throughout your mortgage term.
Great for budgeting and shielding against potential rate hikes.

Variable Rate:

Often starts lower, potentially saving you money upfront.
But, it fluctuates with the prime lending rate, posing a risk if rates rise.

Through our strong relationships with leading lenders, we’re able to access preferential rates that are typically reserved for high-volume clients. We’re committed to passing these benefits directly on to you, ensuring that you receive the most competitive rates. Even a marginal reduction in interest rates can result in substantial savings over the mortgage term.

Up to 80% LTV (Loan To Value Ratio) for your investment purchases.

When it comes to Debt Coverage Ratio (DCR), each lending institution has its own criteria. Some may consider rental offset, where a portion of your rental income is factored into your mortgage payments. This can affect your Debt Ratio – for example, if your rental income covers 70% of your mortgage, the remaining 30% shortfall is counted in your Debt Ratio. However, any surplus in rental income adds to your net worth. It’s like a balancing act, but we’re here to help you navigate it smoothly!

Types Of Investment Properties We Finance

Properties located in tourist areas can be rented out on a short-term basis to vacationers. They offer flexibility for personal use and potential for high rental income during peak seasons.

These properties combine residential and commercial spaces, offering multiple streams of income. They can include retail spaces with apartments above or office space with residential units.

Properties located near universities or colleges can be rented out to students, providing a steady rental income stream.

These include duplexes, triplexes, and apartment buildings with multiple units. They provide the opportunity to generate rental income from multiple tenants, spreading the risk of vacancy.

Investing in a cottage property can offer rental income, potential appreciation, and personal enjoyment. However, challenges include seasonal demand fluctuations, maintenance costs, and regulatory considerations. Mobile homes and timeshares are not accepted for mortgage financing.