What happens if my Mortgage Application is rejected?

Author: Gary Corriveau

If your mortgage application is not approved, there are several steps you can take.

  • You could get a guarantor to co-sign the mortgage application. This is often done by a parent or relative.
  • You could seek financing through an alternative lender or a private lender. These companies specialize in lending to homebuyers who cannot obtain a mortgage through a traditional lender like a bank, credit union, or mortgage company.