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The 72 Month Mortgage Decline Plan

The 72 Month Mortgage Decline Plan

The Mortgage Decline Plan

Have you been a victim of mortgage decline?  Everyone can get a mortgage. I know that is a bold statement but it’s true.  That doesn’t mean that everyone can buy a house with 5% down at the best interest rates.  The riskier the transaction, the higher the rate and the more skin in the game you will need.

That being said the majority of people can get a mortgage in 72 months or less. Some clients are ready immediately and some only need a few months to get their plan together and be ready to buy.  We see clients every day that have lost hope of ever getting a mortgage approval.  A plan will help you from not having a mortgage declined in the future.

The very first step is figuring out where you are with three major components:


This isn’t a challenge for most Canadians but there is a percentage of Canadians that have some issues on their credit bureau.  That can be late payments, written off accounts, collections, judgments, credit counseling or bankruptcy.  In 72 months from the date of the last activity of the issue on the credit bureau, it falls off.  Completely!


You need income to be able to afford the mortgage and qualify for an approval.  Stable income for the last 3 years is ideal.  If you can guarantee a full-time salary then it will require less time.  Exceptions can be made, but why not make it a slam dunk?

Down payment

Imagine if you saved $300 a month for 72 months, that’s over 20k for a down payment and closing costs.  If your employer has an RRSP program, this is a great way to start!  Setting up a direct debit into a TFSA is also a great plan or an individual RRSP.

All that being said, a plan is required and we are great a making a plan to ensure you won’t have a mortgage decline in the future. Contact us to talk about your specific situation and let’s make a plan together.

With Love, Clinton

1. The “Fall Into Homeownership Giveaway” (the “Contest”) runs from 08:00:00 a.m. AST on September 6th, 2020 (the “Contest Starting Date”) to 5:00:00 p.m. AST on September 18th, 2020 (the “Contest Completion Date”). The Contest will have a series of prizes including:

  • One (1) daily prize draw for two (2) ticket vouchers for a future Halifax Wanders game (the “Daily Prize”) starting on September 8, 2020. The Daily Prize is valued at $65.00 CAD. There are no cash alternatives or substitutions.
  • Two (2) weekly prizes (the “Weekly Prize”) for a pair of season tickets with draws occurring on September 11, 2020, and September 18, 2020. Each Weekly Prize is valued at $450.
  • One (1) grand prize (the “Grand Prize'') that includes hotel accommodations, a restaurant gift card, and a Halifax Wanderers swag bag including two (2) game vouchers for a future Halifax Wanderers. The Grand Prize is valued at over $500.00 CAD. There are no cash alternatives or substitutions.

    2. Submitting this form implies consent to subscribe to our emails and mobile phone alerts. Subscribers may opt-out at any time. 

    3. SMS message and data rates may apply. Text HELP to 68411 for help, text STOP to 68411 to end. By opting in, I authorize the seller to deliver messages using an automatic telephone dialling system and I understand that I am not required to opt-in as a condition of entering the Contest.

    4. Participants will receive one (1) contest entry for signing up to email and/or mobile phone updates. This is limited to one entry per person through the online sign up form.

    5. Participants may have the opportunity to earn additional entries and any details will be announced from time to time if available.

    6. The Grand Prize is valued at $500.00 CAD. There are no cash alternatives or substitutions.

    7. Participants must be 18 years of age at the time of contest entry and reside in Nova Scotia, Canada.

    8. By entering this Contest, all entrants consent and agree to the use of their name, address, likeness and photo for any advertising, publicity and marketing purposes by the Sponsor, without compensation.

    9. By entering, all eligible participants agree to abide by the rules and conditions outlined above.

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Normally you can find this at retail stores across Halifax and Dartmouth, but we wanted to make it even easier for you to get a copy.

The entire guide is available online to view or download, and to make sure you’re staying safe at home, you can now request a print copy by mail, free of charge, anywhere in Nova Scotia!