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Cottage Properties – Underwriting Fundamentals 101

Cottage Properties

Cottage Properties

Today we’re talking about cottage properties.

The thing is, is, again, everything that I’m teaching you here, every lender is specific to what they will and will not do.

So some companies will not do cottages.

Some will, but they’ve got to be three season or four season.

Right?

So obviously the three season ones will be harder to qualify for because you don’t have year round access.

But knowing that, also knowing the location of the property, because some lenders, if it’s a very rural location, they may not want to move forward.

So ideally, when you’re planning to buy and we’re doing your pre-approval, you need to determine where the property of the cottages that you want to buy.

And sometimes you don’t know exactly, but just get a guess and be like, I want to buy it in northern Ontario.

Right?

So then you call some of the lenders and ask about northern Ontario where they finance, where they don’t.

Talk to a Mortgage Professional

So, if you are ready to begin the planning process to buy a cottage property, let us get you started by setting you up with a pre-approval today.

All you need to do is book your free strategy call at the link below and we will begin searching together.

Watch It: Cottage Properties