| Report type | Expert commentary (not a statistical report) |
|---|---|
| Sample size | Not applicable — no statistical findings are claimed |
| Date range | Not applicable |
| Author | Saminder (Sami) Juneja, Mortgage Broker |
| Published | 2026-09-29 |
| Last updated | 2026-09-29 |
Why this is commentary, not statistics: we only publish statistical findings from verified, anonymized Juneja Group files with at least 100 records and a stated date range. That dataset is not yet complete for this topic, so this edition shares professional observations only. Nothing here should be read as representative of the Canadian market.
Media summary
- Most declines are about rules, not character.
- Knowing the exact reason matters more than applying at another bank quickly.
- Multiple rapid applications can add credit inquiries without solving the problem.
Suggested attribution: “Saminder (Sami) Juneja, Mortgage Broker, The Mortgage Decline Reasons Report (2026).”
Methodology
This edition is based on the author's professional experience advising clients. It does not count, sample or measure files. When enough verified data exists, a statistical edition will measure:
- Primary decline reason recorded by the first lender
- Secondary contributing factors
- Outcome after the decline (approved elsewhere, restructured, withdrawn)
All data would be anonymized: no names, addresses, lender names tied to individuals, or details that could identify a client.
Key observations
- Most declines are about rules, not character.
- Knowing the exact reason matters more than applying at another bank quickly.
- Multiple rapid applications can add credit inquiries without solving the problem.
Professional observations, not measured findings.
A decline is rarely one thing
Banks decline files for debt ratios, credit history, income type, property type or the down payment source. Often it is a combination.
The decline letter, if there is one, rarely explains the full picture. Asking the lender or broker exactly which rule was missed is the first step.
Debt ratios
Lenders compare housing costs and total debt payments to qualifying income (GDS and TDS). Federally regulated lenders must also apply the minimum qualifying rate set by OSFI.
Paying down a car loan or credit line before applying can change the result more than a lower rate would.
What happens next
Options include a different lender tier, a co-signer, a larger down payment, or a short-term private mortgage with a clear plan to refinance.
Sometimes the right answer is to wait. A good broker should say so.
Limitations
- This is commentary from one mortgage broker's practice, not a survey or a random sample.
- It does not measure how often anything happens and should not be quoted as a percentage or trend.
- Lender policies change. Confirm current rules with a licensed professional.
- Educational content only; not financial, legal or tax advice.
Story angles for journalists
- What to do in the first week after a mortgage decline
- How the stress test affects borrowers who are otherwise strong
- When a private mortgage is a sensible bridge and when it is not
Related resources
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Cite this resource
Preferred title and URL for journalists and organizations:
Saminder (Sami) Juneja. “The Mortgage Decline Reasons Report.” The Juneja Group, updated 2026-09-29. https://thejunejagroup.ca/research/reports/mortgage-decline-reasons-report
Saminder (Sami) Juneja, Mortgage Broker — Mortgage Centre Canada, independently owned and operated by Get A Better Mortgage Inc., FSRA #10874. The Juneja Group is not a licensed mortgage brokerage.