Rumy Gill – Mortgage Broker
Rental Property Mortgage
Rental Property Mortgage can Help you obtain a Rental Property
- Fast Approval
- Great Mortgage Rates
- Maximum Savings
- Low Affordable Monthly Payments
Rumy Gill - Mortgage Broker
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Step 1
Rental Property Mortgage: Let your Tenants pay the Mortgage while you Build Equity through your Rental Investment Asset.
Whether you are looking to Purchase or Refinance 1 Rental Property or More than 5 Rental Properties, you will face challenges in your Rental Property Mortgage Approval. Let a 5 Star Mortgage Broker, Rumy Gill, help navigate you through the process of getting your Rental Property Mortgage Approved.
Clients Trust Rumy Gill to Help find them the Best Mortgage when it comes to a your Mortgage Refinance, and you should too!
- Great Rates!
- Low Affordable Monthly Payments!
- Fast Approvals!
Rental Property Mortgage Approvals for all Situation::
- Declined by Bank
- Buying Additonal Rental Properties
- Home Equity Loan
- Mortgage Renewal
- Not enough Rental Income Surplus
- Low Credit Score
- Low Credit Score
- Consumer Proposal
- Collections
- Divorce
- Too Much Debt
- Debt Consolidation
- Issues with Income
- Mortgage Refinance
- Negative Rental Income
- HELOC (Home Equity Line of Credit)
- Buying Rental Condo
- Buying a Builder Home as Rental Property
- Cash Income
- Bankruptcy
- Late Payments
- Missed Payments
- Over utilization of Credit
- Own Many Rental Properties
Our Goal is to Help Approve your Rental Property Mortgage Situation, and that means We'll find a Way to get your Rental Property Mortgage Approved!
Expand your investment Portfolio, Real Estate is a Great Investment! It has proven the test of time and is the most popular choice of asset to acquire for anyone who is looking to build wealth. It is no secret that Most Billionaires have acquired their wealth through Real Estate, and now you can too.
Why not have someone else pay the Mortgage and cost involved in owning a property while you can enjoy the benefits of Built up Equity and Rental Surplus.
Here Top 5 Reasons why getting a Rental Property Mortgage makes a lot of sense!
- Asset: Invest that hold the test of Time and can be liquided in case of an Emergency or Cash Out Opportunity.
- No Carrying Cost: Tenants pay the carrying cost through Monthly Rent
- Recieve Monthly Income: Surplus from Carrying cost will generate you Monthly Income.
- Build Equity: While your Tenants Pay down your Monthly Rental Property Mortgage you will build Free Equity, which can be used to purchase More Rental Properties.
- Creates Generational Wealth: Real Estate can be passed down through Families from one generation to another
Looking for a Mortgage Refinance?
Speak to mortgage broker about the most affordable option given your credit score income and property
How Can I Refinance my Rental Property?
Unlike the Banks where there are a lot of challenges to overcome with your Rental Property Mortgage before you can be Approved, it is in your Best Interest to work with an Expert who can guide you through Rental Property Mortgage Refinancing process.
Here are some of the Areas, which Banks look at when you are Refinancing your Rental Property Mortgage:
- Rental Surplus: How Much of a Rental Income are generating
- Rental offset: Does the Rent offset the Mortgage Payment and Carrying Costs?
- Negitive Rental Income: Are you Losing Money by Renting the Property?
- Market Rents: Only 50% of Rental Income being used based on what the Market Rent
- Limit to Number of Properties: Banks will Limit you anywhere between 3 to 5 Rental Properties.
If you feel you are not able to overcome any of these areas when it comes to Refinancing your Rental Property Mortgage, you don’t have to stress. Brampton Mortgage Broker – Rumy Gill works with multiple Mortgage Lenders who are able to Help Approve your Rental Property Mortgage. So that means you are able to Refinance as many Rental Property Mortgages as you like, even if you have 10 Properties or More, we can Help get you Approved.
Mortgage Refinance Payments Can Save you Money and Free Up Cash Flow!
Consolidate Debt! Pay off High-Interest Debt! Increase your Credit Score Rating!
The example shows how we were able to help a Client in Brampton with a Mortgage Refinance to Pay off a Second Mortgage and Credit Card Debts saving Our Client $1,265/month
| Before | |
| First Mortgage Amount: | $200,000 |
| Mortgage Interest Rate: | 4.99% |
| Mortgage Payment: | $1,165 monthly |
| Second Mortgage Amount | 150,000 |
| Second Mortgage Interest: | 12% |
| Second Mortgage Payment: | 1,500 |
| Credit Card Debts: $50,000 | ($450 Monthly) |
| Total Debt $400,000 | |
| Total Monthly Payments $3,165 | |
| Monthly Savings $0 (Client further in Debt) | |
| Before | |
| First Mortgage Amount: | $200,000 |
| Mortgage Interest Rate: | 4.99% |
| Mortgage Payment: | $1,165 monthly |
| Second Mortgage Amount | 150,000 |
| Second Mortgage Interest: | 12% |
| Second Mortgage Payment: | 1,500 |
| Credit Card Debts: $50,000 | ($450 Monthly) |
| Total Debt $400,000 | |
| Total Monthly Payments $3,165 | |
| Monthly Savings $0 (Client further in Debt) | |
We Provide Rental Property Mortgage Approvals for the following Properties whether you are Purchasing or Refinancing;
- Single Rental Property
- Triplex
- Builder Home
- Condo Rental
- Cottage
- Investment Condo
- Duplex
- Fourplex
- Builder Condo
- Vacation Rental
When it comes to your Rental Property Mortgage situations clients trust us to get their Mortgage Approved and you should too!
CONTACT US TODAY TO GET YOUR MORTGAGE APPROVED.
We are always here to Help, Your local and trusted second mortgage Brampton team! Looking for a mortgage refinance, or a bad credit mortgage in Brampton? Contact us on 416-855-0545 Ext 101. We can help with your private and commercial mortgages in Brampton.
Frequently Asked Questions
A rental property mortgage is a loan specifically designed for purchasing or refinancing
income-generating properties, such as apartments, duplexes, or single-family homes intended for
rental purposes. These mortgages typically have different qualification criteria and interest rates
than primary residence mortgages.
Qualifying for a rental property mortgage often requires a higher credit score, a larger
down payment (usually 20% or more), and proof of sufficient income to cover your existing and
prospective rental property obligations. Lenders may also consider your experience as a landlord
and the property's rental income potential.
A rental property mortgage can finance various properties, including single-family
homes, duplexes, triplexes, fourplexes, and more significant multi-unit residential buildings. The
type of property may affect the loan terms and qualification requirements.
Generally, yes. Interest rates for rental property mortgages are typically higher than
those for primary residences. This is because lenders view rental properties as higher risk.
However, rates can vary based on your credit score, down payment, and the property's rental
income potential.
When choosing a mortgage broker for a rental property mortgage, consider their
experience with rental property financing, access to various lenders, and ability to offer
competitive rates and terms. A knowledgeable broker can help you navigate the complexities of
rental property mortgages and find the best solution for your investment needs.