Financing a home purchase, renewal or refinance
Streetwise reviews your income, debts and property plans, then helps you compare mortgage terms and arrange financing. Read about home mortgages for the purchase, renewal and refinancing services.
Financing another rental purchase
The mortgage on the purchase, source of down payment and payments on existing rentals need to be assessed together. Read about rental-property financing to understand Streetwise's work and the information needed to start.
A lender’s treatment of rental income is not a universal percentage or an estimate of borrowing capacity.
Read the graphic description
A cash-flow review considers rent, operating costs and payments. A lender assessment considers its rental-income method, other income, mortgages and debts. A cash-flow result is not a mortgage approval.
Reviewing mortgages across your portfolio
Payment pressure, a renewal or funds for investment can prompt a review of existing rentals. The complimentary Portfolio Financing Review starts with your goals, examines each property's finances and assesses the combined portfolio.
Illustrative calculation
Why review the properties together?
Imagine you own these two rentals and want to understand why little money is left each month. Reviewing the income and payments for each one explains what is happening across both.
Rental property A
- Monthly rent received
- $3,000
- Monthly running costs
- −$700
- Monthly mortgage payment
- −$2,600
- You need to contribute
- $300
This rental needs $300 from you each month to cover the listed costs.
Rental property B
- Monthly rent received
- $2,800
- Monthly running costs
- −$600
- Monthly mortgage payment
- −$1,800
- Money left after these costs
- $400
This rental has $400 left each month after the listed costs.
Together, the two properties leave $100 a month.
The $400 left by property B covers the $300 shortfall on property A, leaving $100. Looking only at property B would miss the pressure created by property A.
A financing review would examine whether a change could help with the payment pressure, including its fees, repayment period and interest cost. The recommendation would depend on your goals and the actual financing available.
This is a hypothetical example, not a client result. It includes only the monthly items listed; vacancy, repairs, reserves and other costs would need consideration in a real review.
Financing an apartment-building project
An acquisition, refinance, renovation or construction assessment considers the building's income, costs and planned work. Read about multifamily financing for the funding issues Streetwise reviews.
Apartment-building financing
Plan funding from purchase to completed project.
The budget needs to cover the purchase, renovation or construction, and mortgage payments while the work is underway.
Acquire or refinance the building.
Assess the current income, expenses and financing alongside your contribution and the reason for borrowing.
Carry the property while work is underway.
Allow for the work’s budget and schedule, and the costs of owning the property before the completed work produces rental income.
Plan for the completed rental operation.
Examine the expected income, expenses and financing after completion, including the assumptions behind any planned refinance.
Expected improvements and a projected refinance are assumptions to assess. They should not be treated as funds already secured.
Contact Streetwise
Tell us whether you are buying, refinancing or reviewing financing you have, and include any important date. You can also ask about an existing Streetwise matter or a general enquiry.
