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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Alpine Credits

Finanso.Multilogin™

About lender

Alpine Credits is one of the oldest Canadian lending services industry companies. It was founded in 1969 and now provides millions of its funds monthly. Alpine Credit offers home equity products and debt consolidation solutions. A loan from Alpine Credit is a mortgage against the customers’ property or another real estate they own.

Alpine Credit provides loans only to homeowners and calculates a borrowable amount and interest rate according to the customer’s home equity. Therefore, they don’t have a fixed APR. The rates depend on several factors, such as credit history and credit score, but the most important is how much the customer owns against their home.

Alpine Credits provides loans for different purposes such as debt consolidation, business capital, education, temporary conditions, home renovation, vacation, investments, tax debt, and business loans. Moreover, they even provide loans to self-employed, retired, and newcomers to Canada. In addition, Alpine Credit provides first, second, and sometimes even third mortgages.

Features

This company's most significant feature is that they offer mainly home equity loans. They provide loans based on the customers’ home equity or according to the equity of another real estate owned by the customer.

Moreover, the company concedes loans for a variety of purposes. Also, the credit score and credit history are not the essential factors determining whether a client’s application will be approved, as home equity is the most critical factor. That is why Alpine Credits also provide loans to self-employed people, retired individuals, and even newcomers to Canada.

Another important feature is that the company doesn’t operate across the whole country but only in British Columbia, Ontario, Quebec, and Alberta.

Pros and cons

Nevertheless, the Alpine Credits’ services have several advantages and disadvantages.

Pros

  • The credit is not as crucial as home equity for approval;

  • The company provides many mortgage options according to the customers’ requirements;

  • The company offers loans to self-employed people, retired individuals, and even newcomers to Canada;

  • The company has a rich history of more than 50 years;

  • Alpine Credits has an A+ accreditation by BBB;

  • Repayment plans and interest rate is adjustable and depend on the home equity;

  • Approval and funding don’t take much time;

  • Large loan amounts can be secured and used for almost any expense

Cons

  • Services are provided only on the territory of British Columbia, Ontario, Quebec, and Alberta;

  • The company can charge high-interest rates and fees;

  • Two sets of mortgage-based payments can be tough on your finances;

  • The company doesn’t provide lines of credit;

  • The client’s home is used as collateral.

Loan conditions

The main product of this company is a home equity mortgage. Your loan could add up to a sizable sum depending on how much you own against your home and how much you want to borrow. The maximum loan amount is $500.000. The interest rates vary between 10.00% - 22.99%, according to open sources. However, Alpine Credit’s website gives a first mortgage example with an interest rate of 5.75%. The loan term is up to 60 months.

The loan conditions depend on the customer’s home equity. Typically, the conditions will be more acceptable if the client has a stable financial situation. However, there are some basic requirements to comply with. For example, a client must be a Canadian citizen or a permanent resident, be a homeowner, be a resident of British Columbia, Alberta, or Ontario and be of the age of majority in their province (18 or 19 years old).

Also, the company asks its clients to provide full names, e-mail addresses, phone numbers, property, and current mortgage value. Also, it would be requested to mention the loan amount and address, province, and postal code. Borrowing from Alpine Credits requires completing three steps: the online application, approval, and receiving funds. Usually, the clients are approved within 24 hours.

Required documents include a government-issued ID, proof of homeownership and market value, your credit report, and your income statements. In addition, you may be required to submit documents like pay stubs and letters of employment. Alpine Credit may also ask you to provide a list of your debts and assets, along with proof that you can pay for your closing costs.

Methods of loan funding

Upon approval, the borrowed money will be transferred directly into your account as a lump sum of cash. The funds would then be paid off through divided installments over multiple years, plus interest and fees.

FAQ

What is Alpine Credits?

Alpine Credits is a financial services company providing mainly home equity mortgages. They provide loans for properties such as debt consolidation, business capital, education, temporary needs, home renovation, vacation, investments, tax debt, and business loans. Moreover, self-employed, retired, and newcomers to Canada may be approved. The most crucial approval criteria are home equity, which may be calculated with the help of the equation located on the company’s website. Unfortunately, the company operates only in British Columbia, Ontario, Quebec, and Alberta.

Who owns Alpine Credits?

Amur Financial Group is the parent company of Alpine Credits. It manages in excess of $600 million in private mortgage investments.

How do you qualify for Alpine Credits?

To be approved, the client must be a Canadian citizen or a permanent resident, a homeowner, a resident of British Columbia, Alberta, or Ontario, and be the age of majority in their province (18 or 19 years old). In addition, you must provide proof of address, market value, employment, and income.

How much can you borrow from Alpine Credits?

The company decides how much a client can borrow based on how much they own against their home. However, the maximum loan amount is $500.000.

Is it a legitimate company?

Alpine Credits is a legitimate company. Moreover, it has an A+ accreditation from BBB.

Company documents

Privacy Policy

We focus on the value you have in home equity and, unlike the banks with their stringent lending criteria, we try to make the lending process as easy as possible.

© Alpine Credits Ltd

Financial products

Alpine Credits
Mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$10,000-$500,000
Rate
i

Effective interest rate on the product

up to 22.99%
Term
i

Loan term for the financial product

up to 60 months

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$10,000 - $2,500,000
Rate
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starting from 1.05%
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up to 30 years

Calculate loan payments in Alpine Credits

Alpine Credits calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
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Enter the desired loan amount

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10000 $
500000 $
Loan term
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Specify the loan term for the calculation

months
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60

What to pay attention to when applying for a loan from Alpine Credits

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Alpine Credits from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Alpine Credits’s reviews by August 2022
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