The main point when purchasing multiple rental properties is understanding how rental mortgage lenders calculate property income and expenses. By deducting the expenses of carrying the rental mortgage from the income generated from the property, your debt load (from a lender's point of view) will often be unchanged. This is compared to having the same income without the added expense of an additional property. This allows the average person with a decent income to purchase multiple rental properties.
There are still insurance programs available for 20% down payment; (80% Loan-to-Value). We know the lenders who have an appetite for investment mortgages, let 99 Mortgage put you on the right path to mortgage investing.
CMHC Mortgage Loan Insurance enables Approved Lenders to help borrowers purchase multi-unit properties with a minimum of 20% down. Borrowers can also access competitive interest rates for the life of the mortgage and enjoy reduced renewal risk.
Please find the following quick link to CMHC’s website which discusses Multi-Until Income Property Purchasing in detail.