Having your best interest at heart since 1985

Rental or Vacation Properties

 

Rental income properties can be excellent investments and an alternative way to earn a healthy income. However, when it comes to financing an investment property, they can be quite complex as lenders look at rental properties differently than owner occupied residences. Depending on whether your mortgage is to be conventional or high ratio, lenders will calculate your affordability differently either by using a rental add-back or a rental offset, while some lenders will allow for a certain debt service coverage ratio. Lenders also have different rules when it comes to sources and the amount of your down payment.

Confused? That’s why we’re here to help.

If you are considering purchasing an investment property, or possibly a home with a rental suite to help pay off the mortgage, you need to know your best options. Verico Nova Brokers are well informed on all rule changes within the industry and will help guide you through the process.

Rates

October 19th, 2019

TermNova Posted
VRM2.91Prime 3.95
1 year3.293.59
2 year3.143.74
3 year2.894.44
4 year2.944.59
5 year2.645.34
7 year2.995.79
10year3.046.10

RATES SUBJECT TO CHANGE - OAC.

Please contact the Nova Team for the "best deal" to fit your application.

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What our clients say...

Professional, thorough, and very personable experience

Professional, thorough, and very personable experience. I wouldn't hesitate to use their services again, and will certainly refer Verico Nova to my friends, family and Read More...

Christy Fox January 27, 2018

Subject to change without notice. Please contact one of our Mortgage Brokers to get started today.  Each VERICO broker is an independent owner operator.

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