01
Evaluate more than rent
Allow for vacancy, maintenance, property taxes, insurance and management. Build a reserve instead of assuming every month will produce full rent.
02
Show the full property picture
Lenders assess rental income differently. Existing leases, market-rent estimates, property condition and your other borrowing can affect the review.
03
Structure before you commit
Discuss ownership and borrowing arrangements with your mortgage advisor, accountant and lawyer. Residential and commercial properties can require different financing.
Bring to your conversation
- Leases or rent estimates
- Property expenses and tax information
- Details of other properties and mortgages
General information only. Product availability, eligibility and conditions vary by lender and application.