* Cambrian will be closed on Monday, May 23 for Victoria Day. We will re-open on Tuesday, May 24.

Getting a second mortgage

Blue Front Door

Rental Property Mortgage

Are you looking to purchase a second property as a rental income property?

With a lot to think about before you sign on the dotted line, you will want to consider a few important questions before searching for your rental income property.

Do you qualify for a rental income property mortgage?

Qualifying for a rental income property mortgage comes with different guidelines than you may have experienced with your primary home purchase.

If you used funds from your RRSP for your down payment on your first home, you will not be eligible to do so again. This means you will have to save up for your down payment or take the equity from your primary home.

A Cambrian Lending Specialist can advise you on strategies to save faster and more effectively for your down payment. 

Can you afford the upkeep?

In addition to mortgage payments, property taxes and insurance, you will also have to maintain your rental property.

You will need to budget for expenses, including lawn care and snow removal, general maintenance including renovations and repairs, as well as ongoing bills, such as water and hydro.

Don’t forget to account for potential vacancy between tenants. Just because your tenants have moved out doesn’t mean that your mortgage payments stop.


  • 25% down payment on up to a 25-year amortization schedule
  • Pre-approval can be based on projected rental income
  • Leverage any existing properties to help finance your next purchase
  • Finance multi-unit properties up 4 doors per property at our residential rates

Vacation Properties

Have you ever dreamed about owning a cottage or vacation property? Cambrian can help you make that dream a reality with different financing options.

We offer preapprovals and will work together to determine the mortgage amount you qualify for. Then, we will hold our low mortgage rate for 120 days after you are approved or preapproved.


  • Up to 80% financing
  • Up to 25-year amortization
  • Properties on government leased land are eligible

Let us help

Cambrian has a network of realtors that are able to help you through all steps of the vacation and rental home-buying process.

For legal advice, property inspection and more, we can introduce you to our network to help give you peace of mind while purchasing your next property.

If being a landlord or owning a vacation property is something you’d like to discuss, get in touch with a Cambrian Lending Specialist.