Rental property mortgages could be one of the least understood mortgage types in the world of Real Estate.  I regularly run into people that have been turned down for a mortgage on a rental property, or have chosen not to purchase a desired rental property due to misinformation.  The fact is that I can pick 10 lenders that I have financed rental mortgages through, and see 10 completely different sets of underwriting guidelines.  If there was ever a time when you need a mortgage planner (and there always is) , rental property purchase is definitely one of them.

-Do you know the difference between rental income offset, and rental income add back? 
-Do you know what percentage of rental income your bank allows for qualification purposes?
-Do you know if your bank uses the same percentage for multiple rental properties?

If you own rental properties, or are considering purchasing a rental property contact me today to ensure you maximize your borrowing power!