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2525 blv Daniel-Johnson, Laval, QC, H7T 1S9
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Fax: 514-533-0143
Buyers declined by a bank — Quebec
Declined by your bank even though you can clearly afford to buy?
A solid down payment, a job, a real ability to pay — and a decline anyway. Bank criteria do not measure the same thing as your actual situation. Other lenders read files differently.
- A down payment of 20% or more
- Real ability to pay, but criteria not met
- Self-employed or variable income
- Credit or ratios getting in the way of approval
Nectarios Petropoulos, mortgage broker (licence 237338), Dominion Lending Centres National. Free, confidential review with no obligation.
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We will contact you shortly to discuss your situation. If your request is urgent, you can also reach us at 514-999-9946.
Who this is for
Does any of this sound like you?
A decline measures the gap between your file and one specific grid. It does not measure your ability to carry a mortgage.
Self-employed
Your income is strong but tax-optimized, and the net income on paper does not reflect what you actually earn.
Variable income
Commission, tips, contracts, seasonal work or several income sources: the bank counts only part of what comes in.
Imperfect credit
A rough patch, a past proposal, a few late payments: the score no longer reflects where you are today.
Tight ratios
Your income is enough, but the stress test or your existing debts tip the calculation the wrong way.
The basics
What 20% down actually changes
At 20% down, the mortgage no longer has to be insured. That opens the door to lenders who do not apply the same qualifying rules as the banks, and who weigh equity, the property and demonstrated ability to pay more heavily than declared income alone.
That is why the same file can be declined in one place and workable in another. It still has to reach the right lender, with the right documentation. Here are the routes that can be reviewed.
Options that can be reviewed
Another bank
Grids differ from one bank to the next, especially on self-employed and variable income. The first move is to check whether the file passes elsewhere, at the best rate.
Alternative (B) lender
Income assessed by other methods, different tolerance for imperfect credit. Higher rate and fees, often for a term or two before moving back to a bank.
Self-employed programs
Some lenders and insurers have specific frameworks for business income, with defined conditions and documents.
Private financing
A last resort on a purchase, reserved for cases where the offer deadline demands it and the down payment is substantial. High cost, exit plan required.
Sometimes the right recommendation is to wait a few months, fix two or three things in the file and buy on better terms afterwards. That is occasionally the most profitable decision of all.
The process
How the review works
A simple three-step process, at no cost and with no obligation.
We build the picture
Down payment, real income, debts, credit, the type of property and the exact reason for the decline.
We compare the options
We identify the lenders whose criteria fit your profile and the purchase price that is realistic.
We structure the purchase
If you move ahead, we prepare the file and coordinate the financing through to the notary.
What changes
What the review can give you
Every file is different and no outcome can be guaranteed in advance. Here is what the review usually gives you.
- The exact reason for the decline, usually more precise than what you were told.
- A realistic purchase price given your down payment and your actual income.
- The lenders likely to accept the file, and what that would cost.
- A way to stop firing off applications, each of which marks your credit file.
Who you will be talking to
A mortgage broker specializing in non-standard files
Nectarios Petropoulos is a mortgage broker with Dominion Lending Centres National and has specialized since 2016 in files that fall outside bank criteria: self-employed borrowers, atypical income, credit being rebuilt.
A broker works with several lenders: banks, alternative lenders and private lenders. The job is to compare what exists for your situation and explain the consequences of each option, including when doing nothing is the better call.
- Broker
- Nectarios Petropoulos
- Licence number
- 237338
- Brokerage
- Dominion Lending Centres National
- Office
- 2525 Daniel-Johnson Blvd, Laval, Quebec H7T 1S9
- Phone
- 514-999-9946
Frequently asked questions
Declined applications: your questions
Does a decline mean I cannot buy?
Not necessarily. A decline reflects one institution's grid at one moment. Other lenders assess income, credit and the property differently, especially when the down payment is substantial. Eligibility still has to be checked file by file.
Does a larger down payment really help?
Yes, on two fronts: it reduces the amount to finance, and therefore the payment and the ratios, and at 20% it opens access to uninsured lenders whose criteria differ. It does not replace a demonstrable ability to pay.
Do multiple applications hurt my file?
Each application leaves a mark on your credit file, and several in a short window can work against you. Better to have the situation reviewed once and send the file to the right lender the first time.
I am self-employed. What documents are needed?
Generally two years of tax returns and notices of assessment, business financial statements, business bank statements and proof of registration. Some programs accept other ways of evidencing income.
How long before I can move back to a bank?
Often a term or two with an alternative lender, enough time to rebuild credit and show a clean payment history. The exit plan is set at the start, not at the end.
My offer has already been accepted. Is it too late?
No, but the deadline becomes the critical factor. Reach out with the date of your financing condition — that is what determines which routes are still realistic.
Declined on your purchase?
Let's look at the real reason behind it and at the lenders who may read your file differently.
The information on this page is provided for general guidance only and is not an offer of credit or a guarantee of approval. Eligibility, amounts, rates and conditions vary with your situation, the property, the lender and applicable rules, and are subject to review.