Ontario mortgage help
Mortgage application declined in Ontario
A decline is a result, not a diagnosis. Identify whether the issue involves income, credit, debt, down payment, documentation, the property, or lender policy before choosing the next route.
What to do first
Ask the lender or mortgage professional which general part of the application caused the decline.
Review the application for documentation errors or information that could not be verified.
Obtain your own credit reports and dispute factual errors directly with the credit-reporting agencies.
Address the identified issue before authorizing additional applications or credit checks.
Important considerations
Do not apply everywhereA different lender only helps when its policy or product addresses the actual reason for the decline.
Credit consent is requiredA mortgage broker or agent should not request a credit report without your prior consent.
Approval depends on the complete fileIncome, debts, credit, down payment, property, documentation, and lender policy can all affect the outcome.