I Want To Buy A Second Investment Property
by Kimberley Linde
I already have my family home and one investment property. I only had to put 5% down on my investment property because my daughter was going to university and we bought the house for her use. I have had my investment property now for almost a year and a half. It has been a very positive experience and I want to buy another one. My mortgage broker from RBC told me that I must put 20% down. I have to believe that there are other ways around this without using the equity in my own home. I read your site and it seems like there are other options, especially since you mentioned CMHC and how Genworth and AIG are now battling it out. What do you suggest as my best option? Thanks for your help!