--- title: Is An Income Suite Right For You? description: An Income Suite can be very advantageous to people looking to purchase a new home. Contact us today to learn more about the details of this program. image: https://info.sterlingedmonton.com/hubfs/images/lp/d1-show-home-map/stlyeg-facebook-sharing-ebook-d1-1200X628.png --- [![Sterling Homes Black-Grey Qualico Company](https://info.sterlingedmonton.com/hs-fs/hubfs/identity/logos/Sterling%20Homes%20Black-Grey%20Qualico%20Company%20.png?width=249&height=129&name=Sterling%20Homes%20Black-Grey%20Qualico%20Company%20.png "Sterling Homes Black-Grey Qualico Company")](http://sterlingedmonton.com) - [Owner Login](https://www.homeinformationpackages.com/LoginFrame.aspx) - [中文](http://www.sterlingedmonton.com/chinese/?hsLang=en-ca) - [ਪੰਜਾਬੀ](http://www.sterlingedmonton.com/punjabi/?hsLang=en-ca) [Owner Login](https://www.homeinformationpackages.com/LoginFrame.aspx) [中文](http://www.sterlingedmonton.com/chinese/?hsLang=en-ca) [ਪੰਜਾਬੀ](https://info.sterlingedmonton.com/punjabi/?hsLang=en-ca) - [![Call Us](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-phone.svg) ](https://info.sterlingedmonton.com/contact-us/?hsLang=en-ca) - [![Email Us](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-mail.svg) ](https://info.sterlingedmonton.com/contact-us/?hsLang=en-ca) - ![Mortgage Calculator](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-calc.svg) [TOP ](https://info.sterlingedmonton.com/sterling-homes-edmonton-income-suite-development#) [ TOP ](https://info.sterlingedmonton.com/sterling-homes-edmonton-income-suite-development#) [![Call Us](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-phone.svg) ](tel:7804618369) [![Email Us](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-mail.svg) ](mailto:hello@sterlingedmonton.com) [![Mortgage Calculator](https://sterlinghomes.wpengine.com/wp-content/themes/sterling/assets/images/icon-calc.svg) ](https://info.sterlingedmonton.com/sterling-homes-edmonton-income-suite-development#calc-modal) ![income](https://info.sterlingedmonton.com/hs-fs/hubfs/income.jpg?width=1200&name=income.jpg "income") # Income Suites ### Have you considered developing an Income Suite for your new home? What is an Income Suite you ask? An Income Suite is a separate dwelling inside a single detached house with separate cooking, sleeping and bathroom facilities. ### Is an Income Suite right for you? An Income Suite can be very advantageous to people looking to purchase a new home. Did you know that secondary income suites can help supplement your monthly mortgage through rental income payments? This makes owning a home or building a new home much more attainable, as the CMHC allows 100% of rental income to be applied when qualifying for a mortgage.  As the CMHC states, secondary suites are an excellent source of affordable rental housing as they can also provide the needed extra income to first-time buyers for whom that additional income makes housing affordable in high-cost areas. Better yet, the City of Edmonton Cornerstones II Program grants up to $20,000 to be eligible homeowners developing an income suite. Give us a shout today to learn more about the details of this program.  ### Let renters pay your mortgage   - Average current rent for a 2 bedroom income suite in Edmonton is **$1200,00/month. ** - Cost of Home: **$529,000** - Mortgage Payments **Before** Income Suite: **2,263.53/month** - Mortgage Payments **After** Income Suite: **$1161.53/month**  (with rent being applied to your mortgage payments) Give us a shout today to learn more about the details of this program.  ## Helpful links: - [The Sterling Homes Blog](http://blog.sterlingedmonton.com/blog?hsLang=en-ca) - [Our Home & Lifestyle Newsletter](https://info.sterlingedmonton.com/newsletter-subscribe-nslp?hsLang=en-ca) - [Our Current Quick Possession Homes](http://www.sterlingedmonton.com/quick-possession-homes/select-homestyle.aspx?hsLang=en-ca)   [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=&url=http%3A%2F%2Finfo.sterlingedmonton.com%2Fsterling-homes-edmonton-show-home-map-d1lp%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Is%20An%20Income%20Suite%20Right%20For%20You%3F) ![270A8959_60_61_62_63_64_65Interior2.jpg](https://info.sterlingedmonton.com/hs-fs/hubfs/270A8959_60_61_62_63_64_65Interior2.jpg?width=1200&name=270A8959_60_61_62_63_64_65Interior2.jpg "270A8959_60_61_62_63_64_65Interior2.jpg") ![270A8994_8995_8996_8997_8998_8999_9000Natural.jpg](https://info.sterlingedmonton.com/hs-fs/hubfs/270A8994_8995_8996_8997_8998_8999_9000Natural.jpg?width=1200&name=270A8994_8995_8996_8997_8998_8999_9000Natural.jpg "270A8994_8995_8996_8997_8998_8999_9000Natural.jpg") ### Want to learn more? ## Contact Us Sterling Homes Edmonton 3203 93rd Street NW Edmonton, AB T6N 0B2 Phone: (780) 461-8369 Copyright © 2021 Sterling Homes Edmonton Ltd [Privacy Policy](https://sterlinghomes.wpengine.com/privacy)   |   [Terms of Use](https://sterlinghomes.wpengine.com/terms)