• General rule of thumb:  To qualify for rental property financing, a maximum of 50-80% of rental income may be used in your mortgage application. There may be exceptions so talk with a good mortgage planner.  If it’s a CMHC-backed second home mortgage, however, no rental income can be used.
• Only 0.26% of Canadian mortgages are in arrears according to CIBC World Markets.  In the U.S. the percentage is triple that.  For U.S. subprime mortgages the number is 13%!

Last modified: July 18, 2007