The 5 C’s of Borrowing

Mortgage Matters: Back to the Basics – The 5 C’s of Borrowing. What do lenders look for when making the decision to lend money?

My colleague Bob Quinlan from Mortgage Alliance Prince George does a great job of over viewing the 5 C’s of borrowing. This is what all the lenders look at when considering a mortgage. It is something to keep in mind as we go through this time of uncertainty.

While you’re reading this, however, remember that exceptions can be made to some of these guidelines for very strong candidates (like the 32% GDS rule for example). On the other hand, if your borrower profile is not so strong, expect little if any lender flexibility—especially in this market.

Using a Mortgage Broker can always help, they have the knowledge about how to tell your story.