Did you know? In some cases, when an mortgage application is denied it can have absolutely nothing to do with you, and everything to do with the property! To improve your chances of success when it comes to financing, I wanted to share with you the three main things that lenders consider:

1. The Type of Property: There are various types of properties when it comes to home ownership – detached houses, semi-detached, condos, townhouse, duplex, carriage or heritage home. Depending on the type of property you have chosen, there may be specific considerations

2. The Location of the Property: You’ve heard it before – location, location, location! Location matters just as much to the potential homeowner as it does the lender.

3. The Usage of Property: The use of the property can include things such as personal, investment, recreational, agricultural and also consider previous activities.

Before you begin your home search, I would love to discuss your plans and the type of property you are considering. As a mortgage professional, it is my duty to ensure you have the all the information and to help you find the perfect home (and mortgage) for you!