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How much do you need for a downpayment 2011 in Alberta

 
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Vote:
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anonymous


What is the minimum down payment do i need to buy an investment property alberta 201
0     In Mortgage Cont.18

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    Level 5 - Scholar
    ANiyazi
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    "The minimum down payment required for the purchase of a rental income property is..."



    Hello Anon, across Canada the minimum down payment required for the purchase of a rental income property is 20%. If the property is a second home however you can put as little as 5% down. No rental income will be used for the calculations in this case. If you would like to discuss this matter further or if anyone has any questions please do not hesitate to contact me at any time. Abraham Niyazi - Mortgage Agent - Lic# M08010640 - Centum One Financial Lic# 10758 - Cell: 416-993-4082 - Office: 1-866-RATE-708 x 115 http://www.centum.ca/abraham_niyazi/ I have access to 25 Banks/Lenders across Canada and 11 years experience in the industry.

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    Anonymous
    What is needed to either prove it is a second home or an income property?

    This answer closely relates to:
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