Rental Property as a Business Opportunity
If you wish to purchase a rental property, that is to say, a property not occupied, Multi-Mortgage Loans can provide a wealth of practical advice.
Property for purely rental
- To gain full ownership of rental 1 to 4 units, you have to pay a down payment of 20%. To buy a property of 5 units or more, the minimum down payment required is 15% and the balance sheet of the property must meet the requirements of the lender’s profitability.
Rental property with owner occupier.
- To acquire a property with a dwelling shall be occupied by the owner, the minimum down payment is 5% for a duplex. You will plan a downpayment of 10% for a property of 3 or 4 units and 15% for a property of five units.