MOST lenders haven’t moved their guidelines on the topic, meaning MOST lenders will decline your application for financing.
The ones that are okay with financing homes that have had or currently have marijuana plants growing in them, will charge a premium!
We’re talking a full 1% higher and a cash fee on top of that! ...
More importantly than the lenders are the potential buyers. Do you want to limit your list of potential buyers to those who are comfortable with a more expensive mortgage OR a cash-only buyer? Likely not!
What is seen cannot be unseen – once it’s on the disclosure statement, it’s stays there!
Save yourself, save your asset – don’t grow in your home until we see a change in lending/insurance regulations and very importantly, don’t allow your tenants to grow in your basement suite or your rental property!
You can call me at 647-893-2535 or email me at email@example.com if you have any questions.
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