VACATION PROPERTIES

If you are thinking of purchasing a vacation property, let The Gillis Group take care of your mortgage needs. Below are some basic mortgage guidelines to consider when selecting a vacation property:

›	Mortgage funds must be used to purchase or refinance the property
›	Property must be in Canada
›	Available for winterized and non-winterized properties
›	Property value can include boathouses and docks
›	Property must have year-round access, with some exceptions
›	Remote or 'island' properties are permitted, subject to lender approval
›	Minimum/maximum mortgage value: $50,000/$600,000 (may vary by lender)
›	Rentals and time-shares do NOT qualify
›	Mortgage approval is subject to a full appraisal of the property
›	Mortgage approval is subject to a satisfactory credit bureau report

For more detailed information, contact
Scott Gillis, Senior Mortgage Planner, at 416.440.0338.