Mortgage approvals

[carcoa]

I currently have 2 rental properties and and looking to purchase my third. I have been told by one bank that my debt to income ratio is too high and they will not approve me for a third mortgage. I have good tenants and signed leases. Any suggestions on how to get approval for a third property?



Thanks!

 

[housingrental]

Talk to an investment focused mortgage broker

If you are in Ontario email me for a reference

 

[carcoa]

Thanks! I am located in Alberta, any references for mortgage broker there?

 

[RussellWestcott]

Call Calum Ross, he just recently got financing for an investor that has close to 100 mortgages. One of the best around



>>website here



Let him know you are a REIN member for the 'white glove' treatment

 

[carcoa]

Awesome, thanks Russell! I have a call into Calum.

 

[LAndersen]

I would always work with an broker who invests in real estate themselves. There are lots around here on myreinspace. If you need anothe pr name, just PM me.

 

[Thomas Beyer]

Try Randy Jamieson in Calgary or Dan Heon in Edmonton, both excellent reputable mortgage professionals, both deeply experienced with REIN members and investors.

 

[carcoa]

Thanks very much. I am trying a firm that deals with investors, anxiously waiting.