Buying An Investment Property With Less Than 20% Down

by Dave
(Ontario, Canada)

I know that the 2010 federal budget has made it mandatory to have 20% down to purchase a (4-unit or less) investment property. It's very clear on the CMHC and Genworth websites that 20% down is REQUIRED.

My question is, are there lenders, such as sub-prime lenders or mortgage companies who recruit private investors that will consider funding a mortgage with less than 20%?

Comments for Buying An Investment Property With Less Than 20% Down

Click here to add your own comments

Dec 01, 2011
RE: Buying An Investment Property With Less Than 20% Down
by: Tom Karadza

CMHC is not the only insurer in Canada, so yes there are alternatives, but not very many. Basically you want to find a mortgage broker who has access to private lenders or mortgage investment corporations that are looking to lend at lower down payments.

These things come and go like the wind but your best place to start is by asking mortgage brokers the same question you've just asked here.

Tom

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Submit A Question.