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If you are thinking of buying a home as an investment, there are some basic rules (thanks to our Federal Government) that you need to consider...


This is a home that you buy, typically for yourself (ie: recreational home), or a home for family member (ie: parent, child).  Qualifications for this type of purchase are primarily based on your ability to service this new debt on top of your existing obligations.  Get pre approved and see what you can afford.  Minimal down payment is required if it meets the criteria.


This is a home you buy with intentions of renting out. Again, importance is placed on qualifying the buyer, the current rental market conditions, and your ability to cover the costs if your renter is not available for any length of time. Learning the “pros & cons” of becoming an investor are highly recommended, and something your broker can go over with you.  See this example of a rental offset spreadsheet to give you an idea of what the banks will use to qualify an investor. Down payment is at a minimum 20% for a rental purchase.  

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