Hi,
I’m in the process of obtaining a mortgage through private sale, from a Big 5 bank in ON, Canada.
Had a few hurdles along the road, but now I believe I’ve hit a wall. It’s my grandparents home on 3/4 acres lot, with 600sqft single family residential building, detached garage apprx 500sqft, couple small sheds in the back.
I just heard back that the bank cannot do financing because of the square footage of the house. Has anyone heard of this? I’m not finding anything online related.
It’s an older home (50yr+). Not a modular or “tiny” home. 2br, 1 bath kitchen/dining and separate living room.
I know it’s small, but I’m confused as to why they couldn’t do lending for this place? My grandparents lived there for 45 years, and I’m currently living there. House is in fair shape, just a bit outdated.
Any help or direction is appreciated thank you.
Submitted February 25, 2021 at 06:46AM by 15Warner https://ift.tt/2NHjmNb
