Vacation & Second Home Mortgages Edmonton

We can make this happen for you with the purchase of a secondary homes be it for vacation or retirement eventually.

Whether your preference is a lakeside cabin or a resort condominium we can help with the necessary financing plan to meet your needs. OUR lenders can and will provide mortgage financing for anywhere in Canada.

The process involves an interview to establish what your financial obligations are currently and sending you off to purchase with a clear picture of what you’re able to afford.

Different properties have different criteria from various lenders’ perspectives and we can have this all sorted out for you well in advance.

If you are interested to finding out more, feel free to contact Cindy Janisch – mortgage broker in Edmonton at [email protected].

How To Get a Mortgage for a Vacation Home?

You may be ready to take the plunge and purchase a vacation home. But before you start packing your bags and looking for the perfect place by the beach, you need to make sure you can actually afford it. That’s where a vacation home mortgage comes in.

A vacation home mortgage is a specific type of mortgage loan that can be used to finance the purchase of a second home. In order to qualify for this type of loan, you’ll need to prove to the lender that you have the income and assets necessary to make the monthly payments. You’ll also need to have a good credit score.

How To Qualify for a Vacation Home Mortgage in Canada? 

A vacation home mortgage can be a great way to finance your dream getaway property. But how do you qualify for one?

Here are a few things you need to know:

  • You must have a down payment of at least 35%.
  • Your credit score must be high enough to qualify for a conventional mortgage.
  • You must have a steady income and employment history.
  • You must be a Canadian citizen or permanent resident.
  • You must have a valid government-issued ID.
  • You must be at least 18 years old.
  • You must not have any bankruptcies or foreclosures in your history.
  • You must have enough saved for a down payment, closing costs, and other associated expenses.
  • You must be able to show that you can afford the monthly mortgage payments.
  • You must be willing to undergo a credit check and provide other financial documentation to the lender.

If you can meet all of these qualifications, then you should be able to get approved for a vacation home mortgage in Canada. Just make sure to shop around and compare rates before you commit to anything.