Besides house for principal residence, we're looking at rental properties near U of W, Is it a viable investment? How much down payment is required? Can I obtain mortgage for rental property?

A great resource for the area around the University of Waterloo is Roy Cleeves: http://www.callcleeves.com/home.php

Non owner occupied residence or you can say investment property bought for rental purposes require 20% down payment.You can get mortgage for a investment property with the help of a mortgage broker depending on your financial situation.

The City of Waterloo has recently changed their Rental Guidelines and you will want to make sure you read up on these changes before you purchase a property.

http://www.city.waterloo.on.ca/desktopdefault.aspx?tabid=2816

Best Regards,
Trevor

The decision whether or not a Real Estate investment is viable depends highly on the market fundamentals and most importantly on the price you pay for the property. If the fundamentals seem to be supporting you, it doesn’t mean you should not be extremely careful when making a decision as the price you pay will ultimately make your investment a good investment or not.
Mortgage financing for investment properties is very common, although different financial institutions would have strict requirements in terms of a minimum downpayment, interest rate, and mortgage conditions. Local conditions apply to each market, so I’d suggest to contact a professional with expertise in your area.

Financing for investment properties are 80% as of this Spring when the Federal government mandate the change.
However, I have additional financing options upto 90%
Feel free to contact me anytime to talk over options.
Cheers

Peter K. Yeung AMP-BROKER
Accredited Mortgage Professional
Voted “Top Mortgage Broker” by Metro News
Broker # M08000585 - Brokerage # 10464
416-466-0033
pyeung@rmabroker.ca
Real Mortgage Associates Inc.
peter@ariesenterprise.com
www.ariesenterprise.com

If you are looking for a great Real Estate Broker, I can put you in touch with a couple that deal exclusively with Rental Properties in your area of Interest. In addition, I am not only a Mortgage Broker, I am also an Investor and can help you with financing and any questions you may have in regards to Investment Properties.
I find it's best to deal with Professionals who are doing what you are looking to do. Those that walk the walk can give you the best advice. Contact me and I'll be more than happy to meet with you and give you all the details and information you require.