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Updated over 3 years ago on . Most recent reply

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13
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2
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Chirag Rathod
2
Votes |
13
Posts

First : Investment property & then property for self - canada

Chirag Rathod
Posted

Hi there,

I am exploring the possibility that is it possible to buy an investment property with 20% down and then after sometime buy a house for own-self to stay in with 5% down. 

I am in Ontario, Canada. 

Thanks

Most Popular Reply

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316
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118
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Julie Toh
  • Specialist
  • Mortgage Broker Canada
118
Votes |
316
Posts
Julie Toh
  • Specialist
  • Mortgage Broker Canada
Replied

@Chirag Rathod A primary residence is eligible for an insured mortgage i.e. homebuyers make a down payment of less than 20% of the purchase price. Your DTI ratios will have to work to qualify for this.

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