Need a mortgage on a cottage? Here's what lenders look for - GIC Wealth Management

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For Your Information Need a mortgage on a cottage? Here’s what lenders look for

Need a mortgage on a cottage? Here’s what lenders look for

“Lenders will look at the location, proximity to a major market, sometimes is it on a big lake, is it on a small lake, access to the property, year-around is best, paved roads is a plus,” … “Lenders will want to ensure that there’s a safe and consistent water source as this can sometimes materially impact the marketability and value of the cottage.”

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