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All sorts of new trends have emerged over the past year and a half, from greater interest in gardening to calendars full of online meetings. Another big change: we’ve seen a rural real estate revival in Ontario as more people are moving out of the big cities and into smaller communities across the province. In this article, we discuss the drivers of this trend and highlight how Pillar’s mortgage solutions can help brokers like you secure competitive mortgages for clients buying properties in small-town Ontario.
The increased interest in rural real estate isn’t limited to just one part of the province. Instead, we’re seeing strong demand across Ontario – from Timmins and Kenora in the north to Leamington and Simcoe in the south to Smiths Falls and Cornwall in the east.
For some, this involves moving the family from a big city to a smaller community. For others, it’s a decision to sell a primary home and move into a cottage year-round – perhaps after a renovation to upgrade it from 3-seasons to 4-seasons.
There are a number of factors driving this demand, including:
As Ontario’s real estate market continues to boom, many banks are overwhelmed simply keeping up with mortgage demand in urban markets. As a result, they have limited bandwidth to serve rural areas. For us, rural lending isn’t an afterthought – it’s our primary focus.
Here are four reasons why Pillar is a go-to choice for rural mortgage lending:
Ontario is currently seeing a rural real estate revival. And whether its newcomers moving out from the big cities or locals seeking new homes to accommodate their changing lifestyles, we are ready to meet the increased demand with tailored mortgage solutions.
If you’re seeking flexible mortgages for your clients in small-town Ontario, contact our business development team to discuss your needs or submit your application to Pillar today through Filogix.