Reasons to get decline on a mortgage.
Lately in the GTA (Greater Toronto Area) and while talking to mortgage brokers, this seem coming up, people are not getting approved for a mortgage, so today we discuss a few of the things that could be the reason you are declined when applying for a mortgage:

1) Credit score is low - one of the most forgotten things to look at, if your score is low you will get a higher interest or may be decline all together even if you make a good income.

2) Down-payment source - Majority of lenders will require to have a history of 90 days that you had the down-payment and where they are coming from.

3) Employment length - there may not be enough time working at the same place. For self-employed people proof of income.

4) The property has a stigma - some areas or type of properties may be more difficult to qualify for.

5) Appraisal doesn't come to the offer amount - with houses raising in price is creating an issue as there is a disconnect between the value that someone wants to pay for and the actual value that appraiser's issue.
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