Local Investor
Mortgage financing is available for investment properties with as little as 10% down:
 |
Maximum 40% TDS. |
|
Down payment from borrower’s own resources. |
|
Personal guarantees are required when the borrower is not an individual (e.g. corporate entity). |
|
The personal guarantee can not be released without prior consent from the insurer. |
|
Borrowers should have a strong history of managing their credit. |
|
Two (2) trade lines with at least two (2) years history. |
|
No prior bankruptcy. |
|
Purchase: credit scores 660 or greater. Refinance: credit scores 680 or greater. |
|
Genworth will consider applications with lower scores based on the overall merit of the application and where other risk mitigating factors exist. |
For more information, look at Genworth and CMHC’s guidelines.
