Mortgage financing for lane way homes or carriage homes

By popular demand new home design with lane way or carriage homes are on the rise in the lower mainland. Many buyers may have heard there can be difficulty in mortgage financing for lane way homes or carriage homes but this is not necessarily the case.

Many lenders will consider mortgage financing for these properties if they are listed with a licensed realtor on the Multiple Listing Service and the borrower meets all the conditions to qualify for a mortgage. Always talk to your mortgage broker to be clear on qualifying for mortgage financing for lane way homes or carriage homes to ensure you have the best mortgage option and not just one.

You will need:

Minimum 5% down payment

To meet lender qualifications for income, debt servicing and credit

To ensure the home built is approved by the city to meet local bylaws.

There are a few communities in the lower mainland with lane way homes or carriage homes including Coquitlam and Langley.