It’s a good time to buy real estate for investment while interest rates are so low. Whether you are buying an investment property to get the passive income from renting it out, or you choose to buy an investment property that needs a little work, like a house flip, real estate can provide a great return on your investment.
The benefit of buying a rental property is that the equity builds over time, and the income covers the costs of your investment mortgage. In a house flip, you get your money out more quickly. However, there is more risk involved in a house flip. Read more about buying an investment property in your recent blog post, then give us a call for a free consultation and a personalized investment plan.
Get Great Investment Mortgage Rates Here
HW Advantage is a mortgage broker serving Burlington and the surrounding area. You’ll get great investment mortgage rates as well as the best mortgage rates for homeowners. If you’re thinking about investing in real estate, give us a call to discuss your situation. Getting great investment mortgage rates is possible, and investing may be easier than you think.
Mortgage Pre Approval Before You Shop
When buying an investment property or a home, it’s a good idea to get a mortgage pre-approval before you begin shopping. You’ll be able to budget and determine how much house you can afford so that you shop in the right price range. We make the mortgage pre-approval process easier by explaining every step and taking the time to understand your needs and your financial situation. We do the shopping for you from among the many mortgage lending partners we work with to find the best rates and help to secure the mortgage pre-approval. Get started today by completing the mortgage application on our website.
The Mortgage Stress Test is Causing Stress for First Time Buyers
If you are a first-time homebuyer, you may not be aware of the mortgage stress test. This is a calculation used by the big banks and prime lenders to help determine your eligibility for a mortgage. The mortgage stress test is meant to be a safeguard for Canadian homeowners to prevent them from committing to mortgages that they would no longer be able to afford if interest rates were to rise. While the intentions of the mortgage stress test are good, it means that first-time buyers and buyers with small downpayments will qualify for lower mortgage amounts than they would have before. With buying power reduced, first-timers will have a harder time getting into the hot housing market. Read much more about the mortgage stress test and what it means for you in our blog.
Private Mortgage Lenders are Just Looking for an Investment
If failing the mortgage stress test means that you can’t get a mortgage from a bank or credit union, there is still the option of private mortgage lenders. These are people or organizations who are looking for an investment that has the potential to give them better rates of return than other investment types. Because the government does not regulate them, the lending criteria of private mortgage lenders are less rigid, and they do not need to apply the mortgage stress test. Get in touch with us to find out more about private lending private mortgage lenders.
HW Advantage – Your Mortgage Broker in Burlington
Harrison White and the team at HW Advantage can help you find the right mortgage and the lowest Burlington mortgage rates. Whether your needs are straightforward or you need to explore alternative options such as a cosigned mortgage or private lending, call us at 905-541-6961, or fill out the form below and let’s talk!