All Forum Posts by: Maveen Ahluwalia

The issue that I am having with putting 5% down is with my current income I cannot afford a mortgage more than 300k, and I can't find anything near me thats a MFU within that price range. Are there any tips you could recommend for qualifying for a higher mortgage or should I just be looking at cheaper properties outside of the horseshoe?

Originally posted by @Huong Luu:

@Maveen Ahluwalia Connect with a mortgage agent to confirm you can quality for a 5% d/p on a 4plex. You will be limited to distance and usually an investment property will need 20% d/p. If you get a MFU and rent it 100% then you are limited to driving distance for work. However, if you plan to house hack/ live in 1 unit, then you will be limited by distance. In addition to the $80K you have, you should plan to have 2-5% for closing cost. Good luck

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Hey everyone!

First time here on BiggerPockets, I was looking to connect with some people to discuss buying my first investment property (and my first property) who can help provide some guidance on what time of deals/approach I should be looking for/using. I have 80k for a down payment and as of now I have been looking at houses in the St Catharines/ Niagara region. I am looking to build a portfolio and eventually supplement my income through rental properties and would love to connect to learn from others who have done this. Please let me know if you have any tips or recommendations.

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All Forum Posts by: Maveen Ahluwalia

Maveen Ahluwalia has started 1 posts and replied 2 times.

Post: First Time Buyer In Ontario

Post: First Time Buyer In Ontario