CONSOLIDATE DEBT NOW BLOG

With today’s ridiculously low mortgage rates there are a number of consumers who are looking to buy a second investment property.  Now, more than ever we get calls from clients trying to find out how to buy a second investment property who have been frustrated by the process.  Even with rates being very affordable you still have to qualify financially to carry a second investment property.  The major banks mandate that you must be able to debt service both your primary home and your second investment property.  If you are looking for high ratio financing (have less than 20% down) you must meet CMHC’s borrowing criteria, which can further hamper your chances at approval and can be found on CMHC’s website.

So, the question remains:  How to buy a second investment property?  There are a number of ways to do this and a variety of lenders who will approve mortgages on second investment properties but you must first know who they are and what their lending practices are.  Having an experienced mortgage broker to guide you through the process of securing an approval can be invaluable.  An experienced broker will not only walk you through the steps and show you how to buy a second investment property but they can also help you secure the best rates with the most flexible terms.  They can even show you how to secure a down payment by leveraging the equity in your principal residence to use as a down payment on your second investment property.

If you want to know how to buy a second investment property and make sure you do it in the most cost effective manner, call Community Mortgage Services Corp.  We can help you take advantage of the lowest interest rates in decades.  Call us for a no obligation consultation and let us walk you through the process.

We can be reached toll-free at 1-866-668-6570 or you can even Apply Online with our simple easy to use application and have a response in no time!