Five Reasons Why You Should Let Renters Help Pay Your Mortgage

 

Are you a savvy homebuyer? Then let renters help pay your mortgage. Recently Canada Mortgage and House Corporation (CMHC) announced that when qualifying for a mortgage, homeowners could now count all of the income from their legal secondary unit(s) instead of the previous 50 per cent, making it easier to qualify and giving this home buying option a boost.

 

Whether you’re a first-time homebuyer feeling your way into the housing market or an existing one looking to lower your mortgage payment, here are five reasons why having renters help pay your mortgage is such an appealing option:

 

  1. Some first-time buyers want to move directly into a single-family home and get mortgage assistance using a rental suite instead of purchasing a condo at a lower cost.
  2. If you want to get your foot into the world of real estate without breaking the bank, a home with a rental suite can be a great start, especially if the area you happen to love is pricey.
  3. Homeowners looking ahead to the future may want to lower their mortgage cost so they can channel money into other investment areas like RRSPs, TFSAs, RESPs.  Or simply as a way to become mortgage free sooner!
  4. Spending less on your mortgage can give you the freedom to change your lifestyle or follow your dreams, perhaps to travel, start a new business venture, or allow for the luxury of having a stay at home parent.
  5. Rental suites are also great if you have ageing parents. You can keep them close without infringing on personal space.  Keep in mind that if tenants are family members, lenders and insurers will not use the rental income for qualifying purposes.

Ready to become a savvy homeowner and let renters help pay your mortgage? Talk to me today and find out how! 

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Happy client - who saved time and money with Double Alex Team!
We helped to arrange the mortgage, buy the apartment in downtown Calgary and get the property insured!

Everything was done by REMI Group - Real Estate, Mortgage, Insurance the client convenience!

Double Alex Team (Alex Iron) - REMI GROUP.
Calgary Realtors , Mortgage & Insurance Brokers!
TEAMWORK FROM THE TEAM THAT WORKS!

403-708-0159
Alexandre@AlexIron.com

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Today - Realtor.ca shows 849 listings on the market in Calgary under $300,000!

 

Here's just one example of a beautiful home that you could own for just $275,000!

With today’s low rates, you could own this home for $1,226/month with just 5% down!

 

Contact me to learn what you qualify for, or if you would like the listing link.

Phone - (403) 708-0159

E-Mail -  Alexandre@AlexIron.com

 

Remember, it’s FREE to do an assessment and get your ‪mortgage pre-approval so you have absolutely nothing to lose!


If you would like more details on this property, or to see what you qualify for, please send me a message or comment below.

 

Thanks, Alex!

 

 

 

 

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Well maintained fourplex. Four 2 bedroom apartment style units, about 1000 sqft each. There is also 1050 sqft garage that is insulated and heated. Total monthly rent is $4,350.00. Tenants pay their own electricity.

 

 

Phone - (403) 708-0159

E-Mail -  Alexandre@AlexIron.com

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Multi-Family Building for SALE!

 

Well Maintained 18 Suite Apartment located on SE Hill, close to Downtown and all amenities. Feature 14 - 2 bedroom units and 3 - 1 bedroom units and 1
Bachelor unit. This APT is always rented ,rents are below market rent, room to increase rents. Parking at the front and paved parking at the back of building.

 

Contact for more info - 403-708-0159

 

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Have Questions? Contact me at: 403-708-0159

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