Before entering the program, our mortgage broker will conduct a very thorough analysis of your situation and your file. It ensures that you have the financial capacity to recover your home.
If you can not fulfill all the conditions for a mortgage at the end of the contract, the investor can give you an extension of another year if necessary. This solution will be possible at the discretion of the investor. He will use his overall experience with you, your payment habits and the improvement of your credit over the term to renew you one more year.
On the other hand, if you do not meet the criteria of the bank because you have been negligent in the process of restoring your credit, late and/or you missed payments, the investor is not obliged to accommodate you with an extension. In this case, the deposit you put for the call option may not be refundable and may be used as liquidated damages.
If you are serious and your business, there will be no problem. The investor simply wants to see a sustained effort and have a good experience with you during the term.