Investor friendly lender

[applegreen]

Hello, all

all of my rental mortgages are with Scotia bank, I have one up for refinance ,however when I call my agent from scotia, I was told with the new rule in place, she is not able to help me. Can someone share some information on which lender is still investor friendly so I can go to contact them ? appreciate any inputs, thanks

 

[Sherilynn]

Normally the new rules would only affect you if you were trying to pull
out equity, so if you are simply renewing your mortgage, you should be
able to keep the mortgage with Scotia as-is.



If you must refinance, you may want to try a mortgage broker that has extensive experience with investors. However, certain banks (RBC, for example) don't use the broker channel so you would need to visit your local branch.



Also contact credit unions as they have different rules than the big banks.

 

[applegreen]

Thanks Sherily, great information.unfortunately I have to refinance, have to shopping around I guess