Real Estate

Refinance property

  • Last Updated:
  • Jul 9th, 2021 9:57 am
[OP]
Newbie
Feb 1, 2013
92 posts
17 upvotes

Refinance property

Hi folks.

What is the process for getting financing from bank against a property that does not have any mortgage? does the lender consider your income for this? what is a good way to approach this? the objective is to use the money lent by the bank for buying a rental property.

thank you for any ideas.
1 reply
Newbie
Jun 28, 2012
75 posts
58 upvotes
Ontario
You would go through the application process the same as for any other mortgage with the approval/limit based on credit history, debts and income. It's no different just because there isn't currently a mortgage on the property.

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