After 15 years with our JV on this property, it has come time to sell. JV has decided they would like to move on. 2036 15 Ave E Prince Albert Price $465K (Yield ($4500 x 12)/465000 x 100= 11.6%) Month rent $4000 Monthly Utility income $ 500 Total Monthly income $4500...

Hi Craig: #1. If you can qualify for the mortgage then your brother could gift you the downpayment rather than being a co-signer. This way his credit does not negatively impact the application. As a mortgage broker, I have access to lenders who will allow the gifted down payment from...

They could save significant interest and pay off the principal by asking the HELOC lender to convert the HELOC into a Variable rate term mortgage. If you consider that the HELOC and variable rate will increase the same rate by moving it into a variable rate now at say Prime-.9% with 25 or 30...

You may qualify for B lending with bad credit. This is where I look for solutions for my clients first before moving to the private money world. With access to 12 different B lenders, we often find a solution that will work. You can schedule a call with me here: Discovery Call...

Having the third suite as legal then ensures that the rental income for that unit will be used by all lenders for qualifying for future mortgages. Nothing worse than trying to qualify and having rent for a unit excluded because it is not a legal unit.

Neil, did you figure out a solution? Sent from my SM-G935W8 using myREINspace mobile app

Likely the complaint was triggered by a parking issue or an activity taking place in the garage that was bothering the neighbors. Do you know what your garage renters were actually doing? Having the tenants rent the garage is not what they are looking at it is third party garage renters where...

Hi Benjamin: I have a Commercial Realtor I can introduce you to. It is always good to talk to a few to see who fits best with you and your needs. Keith Uthe, REIA Mortgage Alliance Enrich Mortgage Group keith@enirchmortgage.ca 403-614-8843

Sounds like lots of extra landlord costs on maintaining the pool and arguments over use. What are the insurance risks and your insurers opinion of your risk?

When you consider A lender rental interest rates are at or near 4% if you have to pay about 5% at B lender that is not bad. If you have no other lending options and don't want to sell what choice is there. Sent from my SM-G935W8 using myREINspace mobile app

This is why investors need to maintain their relationship with a mortgage broker that has access to lending products that could prevent foreclosure. If you know an investor that needs help have them contact me. We have a rental property lender that will use stated income and 100% rental...

You are looking at High Ratio insured mortgage rates not rental property rates. You will not find rental property rates posted on rate hub or other similar sites. Lenders apply rate premiums to rental properties. Keith Uthe Mortgage Alliance Enrich Mortgage Sent from my SM-G935W8 using...

If you join Direct Buy you could get about 63% of kitchen cabinets.

There are lenders that will do Refinance plus improvements. If you are working with a knowledgeable mortgage broker then they should be able to help direct you in this process. If not then get in touch with me and I will help you. Keith Uthe, REIA Mortgage Alliance Enrich Mortgage Group...

The assessment of the people that you are lending the money too is critical to the process. Can they afford to make the payments based on the interest rate you want to charge? If this is your first time then you need to have an independent lawyer that represents you int he process and that...

As a mortgage broker I use credit unions for my investor and home owner clients quite often. They often ask for more documentation and amazing how investors will balk at these requests. Often the rate is competitive and some limit to 25 year AM. They do not fall under federal regulations so...

The most recent mortgage qualification rules only affect conventional uninsured mortgages. There are many different rules in play now. The problem is many people are confused and that is why they need to speak with a mortgage broker to help them understand the differences and where they fit. I...

Hi Shawn: The questions for an investor to ask is what is their time worth and how is it best spent? Does the investor have the time to contact multiple different lenders to try and find out about rates and qualification requirements and answer their questions? Does the investor know how to...

The rate premiums charged by lenders on rental properties varies from .05 to .35%. If you are only going to deal with one bank ans not a mortgage broker then you are stuck with what they offer. As a mortgage broker I will advise of the various rental financing options available through many...

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