Having your own rental property in Cardston has potential to be a great investment. Securing a fantastic mortgage through a licensed Cardston mortgage broker (such as myself!) is a valuable resource for ensuring you make the most out of your rental property.
Many borrowers purchase their own home in Cardston as an investment to begin building home equity.
Some people opt to live in their 'forever home' in Cardston, and some opt to use their home as a rental property.
Having a rental property has potential to open you up to new opportunities in Cardston, let's dive more about rental properties below!
As a first time home buyer, you'll likely want to take advantage of the First Time Home Buyer Incentive. If you're hoping to use your property as a rental property in Cardston, it's important to know that with the First Time Home Buyer Incentive you must intend to use your property as a principal residence, not a rental property.
If you're interested in exploring avenues for how to purchase a home to use as a rental property, connect with myself (your licensed Cardston mortgage broker) to discuss your options!
As a licensed Cardston mortgage broker, I can assist with information regarding a mortgage for your rental property, and help you decide:
Many of these factors will impact your over all cost of borrowing - it's essential that you make wise mortgage decisions so that your rental property in Cardston is as profitable as possible.
It would be awesome if mortgages in Cardston were handed out like candy, but they aren't.
Regulations are in place to protect the lender, the economy, and the borrower - it's important that borrowers meet minimum qualification requirements for their mortgages to lower the risk of defaulting on their mortgage!
Some important personal factors which are assessed in a mortgage application for a rental property are:
If you're concerned that you may not meet lender qualifications to own a rental property of your own, I'd be happy to help!
As a licensed Cardston mortgage broker, I have access to countless mortgage programs allowing my valued clients (that's you!) an increased opportunity to own a rental property.
Worried about bad credit? Are you self-employed? I have flexible mortgage solutions available to navigate these challenges!
If owning a rental property in Cardston is your goal, let's work together to assess lending options including A-lenders, alternative B-lenders, and private lenders so that we can get you pre-approved (and approved!) for an amazing mortgage.
Before you purchase a property and assume you'll be allowed to use it as a rental property, there are some important aspects to consider.
Have You Evaluated These Factors For Owning A Rental Property In Cardston?
There are other considerations involved when deciding whether to own a rental property, many which vary on a case-by-case basis.
Now let's check out the benefits and considerations of owning a rental property in Cardston!
Once you’ve done the hard part (becoming a homeowner in Cardston!), you can glide towards having a rental property and being a landlord; this means you are responsible in overseeing your property, so if the tenant has any maintenance issues, it is up to you to resolve them.
Here are some helpful considerations and benefits to be mindful of with a rental property:
Benefits of a rental property in Cardston
Considerations of a rental property in Cardston
Owning a rental property in Cardston can be a great investment... just ensure you are well-informed regarding the rights of both landlord and tenant!
Your goal for owning a rental property is likely to increase your own home equity and investment profile. Your financial return on your rental property could be influenced by what type of rental property you choose to operate in Cardston.
Here's some food-for-thought regarding short-term and long-term rental properties
If you're considering taking the next steps towards owning a rental property in Cardston, congrats!
Or maybe you already own a rental property, but you're on the hunt for a competitive mortgage renewal or refinance.
Either way, I'd love to help! I'm Kyle Benzies (licensed Cardston mortgage broker); I have extensive experience in helping borrowers (just like yourself!) secure financing for the perfect rental property.
To discuss your mortgage options for a rental property in Cardston, give me a no-risk call today!
***other conditions may apply to anything listed above. The information provided on this page should NOT be implicitly relied upon, and may not be 100% up to date. It's best to contact us for the most current conditions/program offerings***