Financing for more than 4 properties

Most banks are reluctant to look at financing a 5th property. I'm not sure why 4 seems to be the limit, possibly because banks view rental properties as risky. It seems like 10 years ago, there was no problem financing multiple rentals.

Any investors or mortgage brokers out there that know how to get around this hurdle? Without having to pay an insane rate (ideally < 3% fixed/variable) or put a downpayment greater than 25%-30%?

Likely because CMHC isn't backstopping the mortgages so they actually do some underwriting...

Maybe check some CUs? Otherwise, you're probably stuck with subprime lenders and their extortionist rates.

Could you leverage your existing properties to get the down payment for the new one?

Migos said:

Likely because CMHC isn't backstopping the mortgages so they actually do some underwriting...

Maybe check some CUs? Otherwise, you're probably stuck with subprime lenders and their extortionist rates.

Could you leverage your existing properties to get the down payment for the new one?

Click to expand...

Down payment is not a problem, I'm willing to put down 30% if I really have to, although ideally 20 or 25%. I just need a bank/financier willing to provide a mortgage. Any Credit unions you would recommend?

Check your private messages oolloo