Want to buy a duplex and live in one side? Here’s how to get a mortgage for a duplex.

Today, let’s talk about duplexes. I occasionally get people who call me, and they want to buy both sides of a duplex—one side to live in and one side to rent out. And the question becomes, well, how does the down payment work?

On the side that you’re living in, you could potentially get away with 5% down. But on the side that is getting rented out, assuming it’s a separate title (a separate legal property), you would have to put 20% down because it’s a rental property. The rental property rules in Canada are that you must have at least 20% down.

The exception to that—and these are pretty rare properties—is if it was a single title for the whole structure, in that case, you could get away with as little as 5% down.

So talk to your realtor, check the title of the property, and then give me a call and we’ll get you ready to roll on buying the home. You can reach me by phone or email.

I also have a helpful video about financing an infill home.

About Jason Scott, Edmonton Mortgage Broker

Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker Edmonton.