Street Capital announces new rental program

Street Capital announces new rental program

Street Capital announces new rental program Increasingly, brokers are having difficulty securing mortgages for rental properties but one lender has added a new tool to the broker’s belt.

“We believe that the launch of the Small Rental Program demonstrates our commitment to providing a broad product line for our mortgage broker partners,” said Paul Grewal, president of Street Capital. “It’s another reason for brokers to select Street Capital as their preferred lender.”

Announced Wednesday, Street Capital's new rental program is targeted at the small (1-4 units) rental market.

The new addition to Street Capital’s product portfolio offers financing options for clients interested in purchasing or refinancing non-owner occupied properties including condo, single family, duplex, triple and fourplex rentals, according to the official release.

“The Small Rental Program is now available to brokers across Canada,” the release states. “Brokers interested in doing business with Street Capital should contact their local Regional Vice-President of Sales for more information.”
 
13 Comments
  • John 2014-03-13 1:05:43 PM
    For some strange reason the the owner of the rental property, has to live in the same province as the rental property.
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  • Mortgage Guy 2014-03-13 1:23:07 PM
    When Street Cap announce they have an exciting new rental program being launched, I was couldn't wait. I just reviewed the program and I am sorry to say Street Cap is not offering anything new that is exciting. 20% down with CMHC insurance, 25% down without. There is also a 4 door cap on rentals and a $100K proof in net worth. This is not EXCITING! This is no different than 10 other lenders offering similar product.
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  • Ron Butler 2014-03-14 9:57:05 AM
    More choice is always better, Street has no rate premium so we have access to a competitive rate if the deal is 75% or less LTV.
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