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An alternative lender says yes faster than a bank and charges more. What to plan for a file in Capitale-Nationale, and the way back to a bank rate.
A decline is an internal policy call, not a verdict on your file. You need the exact reason: an exceeded ratio, a miscalculated income and a property judged ineligible lead to three different next steps. Without the reason, comparing elsewhere means starting over blind.
The reason for the decline in writing, if you can get it, and the file as it was submitted. Add your notices of assessment, income proof and proof of down payment. Note how many credit checks have already been run too: piling them up eventually hurts.
Your offer price only counts if recent sales back it up. Where comparables are scarce in Capitale-Nationale, the appraisal can land under what you agreed to pay, and you make up the difference in cash. The lender won’t finance that gap.
Income proof, down payment source, debts, monthly budget. That’s what the file is built from.
Rate is the easy part to compare. On a purchase in Capitale-Nationale, two offers mostly differ in the penalty to break the term, how much you can prepay each year, and whether the mortgage follows you to your next home.
A file that’s complete the first time saves you weeks of emails. What holds things up in Capitale-Nationale is almost never the analysis. It’s the employer who hasn’t answered, the statement not yet sent, the appraiser running late.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
No. Each lender has its own policies, and a decline does not show up on your credit report. Do ask for the exact reason, though: without it, comparing elsewhere means starting over blind.
Pick the situation closest to yours.
Contact
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.