• NEW RENTAL PROGRAM FOR INVESTORS!

  • If you are a real estate investor, you know that it is extremely difficulty to finance your residential property purchases as you get further into the game!

    Street_Cap_Logo

    Great news – Street Capital (“A” Lender) has just announced a new rental program – it’s called the Small Rental Program.

    Here are the key points:

    -Unlike many other rental lenders, it comes with no rate surcharge and no insurance premiums up to 75% LTV
    -Currently it is only a 5 year term but eventually they may roll out other terms depending on the success of the program
    -They will have a TDS of 40% -GDS is not a concern
    -They will consider 1-4 unit properties and condo’s in urban areas
    -They have a max. amortization of 30 years
    -The Down Payment must come from one’s own resources – ie. line of credit, savings, etc. the funds cannot be gifted
    -The minimum Credit score must be 680
    -50% of the Gross Rental income may be added to personal income when calculating
    the TDS ratio
    -The maximum number of rental properties an investor has is still 4 properties

    Are you interested in investing in a rental property? Do you have equity in your current home? Do you have a line of credit or HELOC you can borrow from? Typically investment properties can provide excellent monthly cash flow, appreciation over the life of the property and excellent return on your investment – can you say that about your RRSP or even your TFSA?

    If you are interested in learning more about this program or seeing if you qualify – call me today!

    To Your Wealth!
    Amina

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