Is there a minimum square footage required in order to get financing for a condo?

Although there is currently no official minimum square footage requirement some lenders cannot provide mortgages on units less than 500 square feet.

Each bank and lender in the market approaches low square footage condos differently.  Some lenders are more progressive and will consider smaller units on a project by project basis. Others have minimum requirements such as the inclusion of parking and requirement for an enclosed bedroom.

Consult with your bank or broker to understand your options.

This question was answered by Chris Molder (Mortgage Broker)