What is Rental Property in Canadian mortgages?
Investment property generating rental income. Requires 20-35% down, higher rates than owner-occupied.
What is the Rental Property limit for Canadian mortgages?
DSCR (Debt Service Coverage Ratio) ≥ 1.0
Rental Property example
Worked example
Property rents for $3,000/month, mortgage payment $2,400/month = DSCR 1.25.