How Rental Income from 259 Highland Street, Haliburton Can Help You Qualify for a Mortgage

Investing in a Legal Duplex in Haliburton: A Smart Financial Move

If you're looking to buy a home in Haliburton, Ontario, you may be wondering how to qualify for a mortgage while keeping your monthly payments manageable. 259 Highland Street, Haliburton, an in-town legal duplex, offers an excellent solution: rental income from the basement suite can help offset your mortgage payments and increase your borrowing power.



Why 259 Highland Street is a Prime Investment

Located in a highly sought-after area with strong rental demand, this property presents a rare opportunity for both homeowners and investors. With two separate living units—a spacious 4-bedroom, 2-bathroom main unit and a self-contained 1-bedroom basement suite—this duplex provides flexible income-generating potential.


Key Features of the Property:



  • Fully Renovated in 2010 – Modern systems and updated interiors while maintaining original charm.
  • Main Unit: 4 bedrooms, 2 bathrooms, a cozy wood-burning fireplace, and a screened-in covered back porch.
  • Basement Suite: 1 bedroom, 1 bathroom, a separate entrance, and independent utilities for added privacy.
  • Spacious Backyard: Perfect for outdoor activities, gardening, or relaxation.
  • Town Sewer Connection: Ensures hassle-free utility management.
  • Prime Location: Close to downtown Haliburton, local amenities, and recreational areas.


How Rental Income Can Help You Qualify for a Mortgage

Purchasing a $670,000 home requires careful financial planning, but having a rental unit can significantly boost your borrowing power. Lenders allow a percentage of rental income to be factored into your total income when qualifying for a mortgage. This means the basement suite at 259 Highland Street can lower your required income threshold, making homeownership more

accessible.


Mortgage Qualification Estimates

To qualify for a $670,000 mortgage, your required income will depend on:

  • Your down payment (e.g., 5% vs. 20%)
  • Interest rate (current market rates around 7%)
  • Loan term (typically 30 years)
  • Debt-to-income (DTI) ratio (most lenders prefer 43% or lower)
  • Property taxes & insurance (additional monthly costs)


Scenario 1: 20% Down Payment ($536,000 Loan at 7%)

  • Estimated Monthly Mortgage Payment: $3,575 (excluding taxes/insurance)
  • Required Income Without Rental Income: $107K – $120K/year
  • With Basement Rental Income ($1,100/month, 75% counted):
  • $825/month added to income ($9,900/year)
  • New Required Income: $97K – $110K/year


Scenario 2: 5% Down Payment ($636,500 Loan at 7%)

  • Estimated Monthly Mortgage Payment: $4,250+ (including mortgage insurance)
  • Required Income Without Rental Income: $125K – $140K/year
  • With Basement Rental Income:
  • $9,900/year added to income
  • New Required Income: $115K – $130K/year


By using the basement suite as a rental, you can potentially reduce your required income by $10,000 per year, making qualification easier.



Maximizing Your Investment: Live, Rent, or Both

This versatile property offers several options depending on your financial goals:

  1. Live in the Main Unit, Rent the Basement – Offset your mortgage costs while enjoying a spacious family home.
  2. Rent Both Units – Generate a strong rental income in a high-demand market.
  3. Short-Term Rentals – Explore seasonal or vacation rentals for increased profitability.


Why Haliburton is a Great Market for Rental Properties

Haliburton is a thriving community with a strong rental market due to:

  • Year-round tourism and seasonal residents
  • Growing local population
  • High demand for quality rental properties
  • Proximity to lakes, outdoor activities, and local businesses


Take the Next Step Toward Homeownership

With the rising cost of real estate, leveraging rental income to qualify for a mortgage is a smart strategy. 259 Highland Street, Haliburton offers an ideal combination of modern updates, strong rental potential, and a prime location—making it a fantastic investment opportunity.

📞 Interested in this property? Contact Haliburton Gold Group today!
🌐 Visit:
Haliburton Gold Group
📍 Address: 259 Highland Street, Haliburton, ON
💰 Price: $670,000


Final Thoughts

Purchasing a legal duplex like 259 Highland Street in Haliburton, ON, allows you to maximize homeownership benefits while reducing financial strain. By factoring in rental income, you can qualify for a mortgage with a lower required income and enjoy long-term financial stability.


 Schedule a viewing today and explore how this property can work for you!



Learn More

By Jess Wilson August 5, 2025
For many Haliburton cottage owners, leveraging their property for short-term rentals through platforms like Airbnb or Vrbo has been a smart way to generate income, offset expenses, and maximize their investment. Who wouldn't want to make their slice of paradise work harder for them?
By Jess Wilson April 9, 2025
The cottage rental market in Haliburton County is off to an interesting start this year. While overall demand is holding steady, changes in traveler behavior and new short-term rental (STR) regulations are shaking things up. Strong Demand for Affordable Rentals Budget-friendly cottages are booking well as many renters feel the financial squeeze. However, high-end rentals priced above $5,000 per week are seeing slower uptake. Off-season interest has also remained relatively soft. Despite that, there are signs pointing to a stronger summer:  Domestic travel may rise due to ongoing U.S. tariff tensions and a growing “Buy Canadian” mindset. A weaker U.S. dollar could encourage more American tourists to explore cottage country north of the border.
By Jess Wilson April 3, 2025
Haliburton County is one of Ontario’s best-kept secrets—a tranquil destination offering pristine lakes, lush forests, and luxurious waterfront real estate. For international buyers seeking a scenic escape or investment opportunity in Canada, Haliburton is especially attractive because it is exempt from the federal Foreign Buyer Ban. However, it’s important to note that Ontario’s Non-Resident Speculation Tax (NRST) does apply to property purchases by foreign buyers in this region unless specific exemptions apply.
How Ontario Homeowners Can Save Money with Solar Energy Incentives in 2025
By Jess Wilson February 18, 2025
As energy costs rise and environmental concerns grow, Ontario homeowners are increasingly looking to solar energy as a cost-effective and sustainable solution. Fortunately, several solar incentives and rebate programs are available in Ontario as of February 2025 , making it easier than ever to upgrade to solar power. If you’re considering installing solar panels, here’s everything you need to know about the best solar incentives in Ontario to maximize your savings and reduce your carbon footprint. 1. Home Renovation Savings Program Launched on January 28, 2025, the Home Renovation Savings Program offers homeowners rebates for energy-efficient home upgrades , including solar installations. Under this program: Receive up to $5,000 for rooftop solar panel installations. Get an additional $5,000 for solar battery storage systems . Rebates cover up to 30% of total upgrade costs. Rebate processing takes 30 to 60 days after approval. This program makes it more affordable for Ontario homeowners to switch to renewable energy while significantly reducing long-term electricity bills.
The Best Areas to Buy Land in Haliburton for Your Dream Home
By Jess Wilson October 29, 2024
Haliburton is one of Ontario’s hidden gems, known for its stunning landscapes, serene lakes, and vibrant cottage country atmosphere.
Harnessing Energy Efficiency:  A Comprehensive Guide to Energy-Efficient Building
By Cedi Walterson Pagdalian August 12, 2024
Discover the benefits of energy-efficient building, from reducing costs and environmental impact to enhancing comfort and property value
More Posts