rental properties

Rental Properties, Purchases or Refinancing

Rental properties and investment properties may be more difficult to finance with the recent mortgage rule changes. At Mortgage Architects we have simplified the process and provide excellent prices and terms.

Property type

  • Non-owner occupied condo, single family,duplex, triplex and four plex rentals Maximum 4 units Located within 30 kms from markets with populations exceeding 25,000
    Lending Criteria:Maximum 80% LTV on Purchases or Refinance.  Insured may be required for lower LTV% Maximum Amortization 25 Years Flexible Repayment terms
  • Low interest rates (See our rates)
  • Flexible terms
  • Favorable repayment terms

How do I qualify for financing of rental properties?

  1. Use our Maximum Mortgage qualifier to know how much you qualify for. Factors that affect the amount you can borrow —
    • Credit
    • Borrowing rate (See our rates)
    • Rental income
    • All other debt payments
    • Property location and condition
  2. Submit an online pre approval application.

Here are some quick facts about rental properties to help you get started —

    • How much is the required down payment?

At least 20% of the purchase price for purchases.  For Refinance, up to 80% of the appraised value.  For equity take out 2nd mortgages, up to 85%.

    • What if I live in the property?

That is fine.  The investment property can be owner occupied or non owner occupied.

    • What are the best rates for rental properties?

There are 2 types of rates for rental properties.  For good credit, rates are displayed here.  For challenged or poor credit, there is about a 1 to 2% surcharge.

    • What is the most important step in obtaining a mortgage?

Call us before you decide to apply.  We would  be happy to discuss your unique situation to determine if you qualify.  You can call us at 1-877-237-2601.

Closing costs for Rental Properties

Closing costs are the legal costs of closing your mortgage. Solicitor fees, including disbursements, title insurance, land transfer taxes vary on per case basis. Lenders usually will need to see you have have 1.5% of the sale price to cover closing costs. Provincial land transfer taxes vary from province to province. Our advice is to check with your lawyer how much your land transfer taxes might be.

Other costs may relate to the cost of financing. Alternative lenders usually charge a lender fee. There might be broker fees, and title insurance.

At Mortgage Architects we believe in total transparency. We disclose all financing associated fees from at the time of commitment.

We give you unbiased and expert advice to identify the best available options and deals that are best suited to your needs.

The Process of Obtaining a Mortgage

Here’s a simple illustration on how you can secure a mortgage.

first time home buyers

In case you do not qualify? No worries, we can still get you approved for a mortgage opportunity that is right for you. Learn More »

For more information on our first time home buyer’s mortgage solutions, call us today 1-877 237-2601 or fill out our online contact form.


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RMA Mortgages offers first time home buyer special mortgage programs to qualified borrowers. Click the links below for more information.
  • Mortgage for Self Employed Individuals
  • Mortgage for New Canadian Immigrants
  • Mortgage for Canada Non-Residents