Tom and Nick Karadza are real estate professionals that are focused on helping real estate investors in the Greater Toronto and Golden Horseshoe areas create income to live life on their terms. They are active real estate investors and in 2008 they launched Rock Star Real Estate Inc., a Canadian real estate brokerage focused exclusively on real estate investments. Together with their team of professionals based in Oakville, ON, Tom and Nick have worked with investors to help acquire over 2 Billion dollars of investment in real estate and implement profitable investing strategies across southern Ontario.
Great post Tom! Not sure if lenders under the new rules, being forced to approve you at the higher posted rate means you can't still get a mortgage at lower than posted rates. Are they just crunching the numbers (as a worst case scenario) to lower their risk of you defaulting should there be a rate hike down the road or does this essentially mean if you want to invest in real-estate you need to put up 20% DP and expect the best rate you can negotiate from a lender will be their posted rate?
Thanks,
/Tom
I should have been more clear, yes, it's for qualifying purposes only.
The rate you actually get on the mortgage is the lower discounted rate. Thanks for asking that Tom, appreciate it!
- Tom