The leases, the rents actually collected and verifiable expenses: taxes, insurance, maintenance, heating if you pay it. The spread between income and those costs decides the file, not the asking price.
Do not overstate income
Lenders credit 50% to 80% of rents, and rent never declared to the tax authority counts for nothing, whatever you actually receive. Your filings weigh more than the leases alone.
Prepare the next acquisition
If the client wants to buy more properties, today’s structure matters. Term, amortization, liquidity and personal debts influence the next project.
Documents to gather
What the lender will ask for.
Leases and rents
Property expenses
Down payment
Vacancy risk
Planned work
Next purchase plan
Frequently asked
How much of the rent counts toward qualifying?+
Usually 50% to 80%, depending on the lender and the documentation. That margin covers vacancy and upkeep. The percentage varies enough between lenders to change your eligibility on the very same building.
Current rates
Today’s rates, read with their conditions.
These rates are indicative. The one you get depends on your file, the type of mortgage (insured or not) and the lender, and the penalty attached to it matters as much as the number.
Buying, renewing, refinancing or an unusual situation: describe where you are at, even if it is still vague. Mathieu replies with the next steps and the documents to gather.
