The Canadian housing market is not exactly easy to break into, especially for young people who might be looking to buy their first home. Unfortunately, that can possibly lead to some problems down the road, especially when it comes to applying for a mortgage. As it turns out, some Canadian millennials think that inflating their income is okay, even if it constitutes mortgage fraud.\nAccording to a new survey from Equifax Canada, 23.4 percent of Canadians aged 18 to 34 answered that it was okay to lie about their income on a mortgage application in order to get the house that they really wanted. The national average for agreeing with that statement was 12 percent.\nView this post on Instagram Here's how to negotiate like a pro! https://www.realtor.com/advice/buy/five-tips-successful-lowball-offer/ A post shared by Golden Oak Lending (@goldenoaklending) on Sep 9, 2019 at 8:44am PDT\nAccording to statistics provided to Narcity by a representative of Equifax Canada (via Select PR), men are more likely to think that lying on a mortgage application is okay than women (17.4 percent versus 7.7 percent). This sentiment also saw a higher response in urban areas than suburban or rural areas (15 percent, 11.7 percent, and 7.1 percent, respectively).\nWhat makes this a huge problem is that providing a mortgage lender with any falsified information constitutes fraud.\n"What some may see as a little white lie during the mortgage application process could have legal consequences or become a very hard lesson for people to learn if they cannot keep up with their mortgage payments," said Julie Kuzmic, Director of Consumer Advocacy at Equifax Canada in a press release.\nView this post on Instagram Open House Today 2-4 PM😁 Thoughts on this beautiful home? 146 Cranbrook Cresent in Kleinburg, On 🇨🇦. $1,398,000 61x100 Ft Lot! This is the house you were waiting for. First Time Offered For Sale. 3,350 Sq/Ft 4 Bed, 4 Bath Stunning Home On Corner Lot In Kleinburg W/ Numerous Upgrades Incl. 24X24 Porcelain Tile Flrs, 10' Ft Ceilings, Pot Lights&More! Custom Wall Panelling. Large O/C Dining & Living. Gourmet Kitchen W/ Marble Counters, Slab Backsplash, Extended Cabinets & Wet Bar. Breakfast Area W/ W/O To Yard Family Rm W/ Coffered Ceiling, B/I Wall Unit W/ Gas Fireplace. Master Suite W/ W/I Closet, 5Pc Ensuite W/ Frameless Glass Shower & Soaker Tub. Custom Garage. Extras:S/S Appliances Including Wolf Range Top& Pot Filler, Jenn Air Stacked Oven, Espresso Machine, Refrigerator, Marvel Beverage Fridge. Washer/Dryer. All Elfs, Light Fixtures. @salernorealestate @salernorealtyinc @salerno_team •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• 📧 Mark@SalernoRealty.ca 📞416.460.2118 Ext 201 💻www.SalernoRealEstate.ca @salernorealtyinc •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• #salernorealestate #salernorealty #torontorealestate #kingcity #vaughanrealestate #realestate #realtor #realestateagent #property #luxuryrealestate #milliondollarlisting #investment #luxuryhomes #dreamhome #properties #broker #forsale #househunting #justlisted #realtorlife #homesforsale #luxuryhome #luxuryliving #sold #newhome #mansion #salernorealty #mortgage #housing A post shared by Mark Salerno | Real Estate🇨🇦 (@salernorealestate) on Sep 7, 2019 at 9:28am PDT\nAnother 19.1 percent of Canadians aged 18 to 34 said that they have not been entirely truthful on a credit or loan application. When it came to knowing their credit, 43.3 percent of Canadians in the 18 to 34 group said that they did not check their credit history before applying for a mortgage. The national average was 60 percent.\nMortgage fraud is incredibly serious. According to the Financial Services Commission of Ontario, consequences of committing mortgage fraud can include lawsuits from the lender, getting fired or sued by your employer for falsifying their information, and even criminal charges. Getting the house you want may not be easy, but it can be made much worse by lying.\nDisclaimer: Cover photo used for illustrative purposes only.\nThere are stories everywhere. If you spot a newsworthy event in your city, send us a message, photo, or video @NarcityCanada on Twitter and Instagram.