INVESTMENT PROPERTIES

If you are thinking of purchasing a property for investment purposes, let The Gillis Group take care of your mortgage needs. Below are some basic mortgage guidelines to consider when selecting an investment property:

›	Property must be prime, marketable real estate in a residential area in Canada, subject to approval by the lender
›	Property must be in average, or greater, condition
›	Occupancy may be anywhere from single family to a 4-plex
›	Property must have legal use as a residential rental unit
›	Property must have tenants with signed leases
›	Basement apartments, if used, must be retrofit (Ontario & Quebec only)
›	Mortgage approval is subject to a full appraisal of the property
›	Rentals and time-shares do NOT qualify
›	Mortgage approval is subject to a full appraisal of the property
›	Mortgage approval is subject to a satisfactory credit bureau report

For more detailed information, contact
Scott Gillis, Senior Mortgage Planner, at 416.440.0338.