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Traditionally, recreation property hasn't qualified for
mortgage financing. So your dream of a cottage by the lake, a ski
chalet in the mountains or a vacation home by the sea remained just
that, a dream.
But now, with the i
relaxTM mortgage, the door is open to making that
dream a reality. Introducing recreation property mortgages for most
second properties, including winterized and non-winterized
properties.
i relaxTM gives you the
ability to purchase or refinance a summer, winter or all season
vacation property with as little as 15% down. And, to make
qualification even easier, i relaxTM can
function as a blanket mortgage so your principal residence can be
used as additional collateral.
Any single family
owner-occupied vacation property will be considered, as long as it's
located in a known vacation area, has approved plumbing and year
round access.
| Cabin fever? Mortgaging for recreation
properties |
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All across Canada we’re seeing the recreational
property market continue to go through the cedar-shingled
roof. Industry experts predict another year in which buyers
seeking a property may out number the recreational properties
available. The boomers are in their peak income years and have
benefited from an unprecedented climb in the valuations on
their primary homes. And across the country, they’re scouring
every lake, ocean beach and ski slope – looking for the
perfect getaway.
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| i relaxTM: Flexible and affordable
mortgage financing for recreational
properties |
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At Mortgage Intelligence, we understand that secondary
properties are generally considered less desirable for
traditional lending institutions. So your dream of a perfect
recreation property can remain just that, a dream.
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TM Trademark of Mortgage Intelligence
Inc.
® Registered trademark of Mortgage Intelligence
Inc.
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Nitesh Kumar
Mortgage Consultant
Mortgage
Intelligence
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