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Construction Pre-Approval for Vacant Land with an existing mortgage. Validation error in Apply Online
Construction Pre-Approval for Vacant Land with an existing mortgage. Validation error in Apply Online
Updated over 5 months ago

When submitting a subsequent Pre-Approval for Construction on Vacant Land which has an existing mortgage you will not be able to select Pre-Approval in the security tab. Most lenders will display the following validation error in Apply Online.

Invalid (may not be yes when the transaction type is owns)

You will need to select 'No' for Pre-Approval and add a summary note for the lender in order to submit the application.

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