MKG Mortgages · GTA
Reviewed by Micky Khaneka, licensed mortgage broker
An investment-property mortgage uses the rent a lender's program accepts, the down payment, and the mortgages already in your name.
MKG Mortgages structures purchases and refinances of rentals across the GTA so this mortgage can leave room for the next one.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
Lenders look at the leases or the appraiser's market rent, the expenses, and the payments on the homes you already own. A legal secondary suite in a house you will live in can be treated differently from a property you will not occupy.
An illustrative example separates a house you will live in, with a legal suite, from a pure rental. Rent is not assumed at 100 percent. Many programs use a portion of market rent, and only when the unit is allowed.
Illustrative example
The challenge. The down payment and the mortgage on their own home both had to be in the file.
How MKG structured it. We underwrote the rental on the lease the lender accepts and kept their current mortgage in the picture.
Illustrative example
The challenge. They wanted the suite's rent included with their employment income.
How MKG structured it. We used the rental income that program accepts for a legal suite and treated the purchase as owner-occupied.
Illustrative example
The challenge. The newest listing was not the whole file.
How MKG structured it. We presented the portfolio, the rents, and the new purchase together so the lender could see the next mortgage in context.
Rent is used in the way the chosen lender's program accepts it.
The use of the property comes first: you live there, or you do not. Then the rent documents and the other mortgages. Then the down payment, which is often larger than on a home you will occupy. A suite that is not legal is not treated as income.
01
Down payment, rent treatment, and the existing mortgages are different on an investment property.
02
A lease, a market letter, or a basement suite are not interchangeable.
03
The way this mortgage is structured can block or allow the following one.
Say that at the start. A separate-entrance suite you will not live in is a different file from a room with a shared kitchen. The city has to allow the unit. The blog on basement suites walks through offset versus adding rent to income.
The down payment is often higher, and your current home's mortgage is part of the file.
We say whether that rent can be used before you rely on it.
The portfolio, not the newest listing, is what the lender reads.
A house you will live in, with a legal basement suite, is usually an owner-occupied purchase, not a pure rental. Lenders may count part of the rent. A rental you will not occupy is a stricter file, and the lender still decides.
A house you will live in, with a separate-entrance basement, is usually an owner-occupied purchase with a suite, not a pure rental. Lenders may count a portion of a legal suite's rent — often 50%, and on some programs up to 100% — either by adding it to income or by offsetting it against the payment. A rental you will not occupy is underwritten on a stricter rent rule and often a larger down payment.
Buying a GTA home with a separate-entrance basement walks through the legal-unit check, the appraiser's rent schedule, and an illustrative qualification with and without the rent. First-time buyers can start on first-time home buyers.
| Property | How rent is treated | Down payment |
|---|---|---|
| You live there, no suite | No rent | Insured programs may allow less than 20% |
| You live there, legal suite | Only if the program accepts it | Depends on the insurer and the price |
| You will not live there | Property income, with expenses | Often larger than an owner-occupied purchase |
Sources. CMHC — mortgage loan insurance · OSFI Guideline B-20 · FCAC — mortgages Published rules change. Read the current page, and confirm tax with your lawyer, before you rely on a figure.
The investment-property page covers the GTA. City purchase pages cover the address. Brampton's hub is written around basement suites. Toronto's hub adds laneway suites, garden suites, and multiplexes. The rent rules are the lender's and the insurer's, not the neighbourhood's.
The note below is paraphrased from a public Google review. It is one client's experience, not a promise that the next file ends the same way. A rate in a client's words is not an offer from MKG. The lender still decides.
An owner adding a rental wrote that the file was presented clearly after a bank had not understood the properties they already held.
Paraphrased from a public Google review of MKG Mortgages. Names and identifying details are left out.
Micky Khaneka is a licensed mortgage broker, FSRA M21002608, at FLOW Lending Group, Brokerage #12864. Canadian Mortgage Professional named him to the CMP Top 75 for 2026, at number 15 in Canada. The lender still decides. The lender still decides.
Micky Khaneka, licensed mortgage broker, M21002608, FLOW Lending Group, Brokerage #12864
The firm serves clients in English, Hindi, Punjabi and Bengali.
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These are the questions that show up before a file is opened. The short answer sits under each one in the page, so you can read it without opening a box. The lender still decides, and a figure in an example is not an offered rate.
Rent can cover part of the qualification, not the whole story. On a house you will live in, a legal basement suite is often counted at 50% to 100% of the rent. A pure rental is usually stricter. The basement-suite note shows an illustrative with-and-without comparison.
That is usually an owner-occupied purchase with a suite. The down payment and the rent treatment can be kinder than on a property you will not live in. Start with the basement-suite note, then we place the file.
Often it is higher. The program depends on whether you will occupy the property.
When the building allows the rental and the lender accepts the corporation. A rental restriction ends the file.
Often, yes, especially for a rental or second property. You use the equity in your current home as the down payment, and the lender counts the HELOC payment in your debt ratios. Remember you're borrowing the whole price, so the numbers need to work even if rents dip or rates rise.
For an insured home you'll live in, borrowed down payments are only allowed in certain programs. A HELOC can go up to 65% of your home's value. We'll set it up so the investment stays manageable.
Checked October 18, 2026. https://www.canada.ca/en/financial-consumer-agency/services/mortgages/home-equity-line-credit.html https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html
Book a time or send the statement, the agreement, or the assessments you already have. The first call is free. It is a review of the file, not a promise of approval, and any rate talk stays illustrative and on approved credit.
Any rate or payment mentioned is illustrative and on approved credit (OAC). It is not a quote, a commitment, or a current offer.