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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.

Capital Direct

Finanso.Multilogin™

About lender

Capital Direct is a Canadian lending company that provides home equity and residential mortgage financing. It was founded in 1997 to help Canadians use the equity in their homes to finance dreams and drive long-term prosperity. It has already provided more than 2 billion dollars in funding for different goals.

A Canadian homeowner with an appropriate amount of equity built up in their property can apply for a large loan to alleviate various credit situations. For example, capital Direct provides loans for home improvement and other needs such as paying for education and weddings, small businesses, buying investment properties, eco-friendly renovations, and different temporary situations.

Capital Direct has two loan options: a mortgage and a home equity loan.

The application form can be found on the company’s website, and filling it out takes about 4 minutes. Meanwhile, the whole process of approval takes about 4-5 days. The company has offices in BC, Alberta, Ontario, Nova Scotia, New Brunswick, and Prince Edward Island, and the head office is located in Vancouver.

Features

Capital Direct provides loans for situations requiring considerable money like paying for education and weddings, small businesses, buying investment properties, eco-friendly renovations, and other temporary conditions.

Its main specialization is home equity and residential mortgage financing for individuals.

In addition, the company has a vast range of available loan amounts: from $10,000 to $3,000,000.

The company targets homeowners. Capital Credit provides loans in case the customer has a good home. The approval system is based primarily on the equity value of the clients’ homes.

Pros and cons

One should get acquainted with the advantages and setbacks of the services provided by Capital Direct.

Pros

  • A long list of loan purposes;

  • The company has existed for a long time and is BBB accredited;

  • A big range of available amounts for the loan: $10,000 - $3,000,000;

  • This company’s services would be suitable for people who need a long-term loan;

  • The simple application form may be found directly on the website and filled in 4 minutes;

  • The company provides mortgage services.

Cons

  • The website doesn’t contain a FAQ section;

  • The annual mortgage interest rate is calculated monthly, not in advance;

  • The company's specialization is very narrow as it is mainly targeting homeowners.

As we see, Capital Direct has some advantages. It is BBB accredited, and also Capital Direct mortgage specialists are members of several organizations across Canada, such as IMBA, AMBA, MBABC, Calgary CCI, and others. Also, they provide several loan options and an extensive range of available amounts for the loan.

However, there are some disadvantages. The most significant is the lack of essential information such as the APR.

Loan conditions

Loan terms range from 12-24 months. For an example of a $150,000 equity loan, the total cost of the loan and all applicable fees would be $34,540.97, resulting in an APR of 10.92%.

For a home equity loan, the loan period varies from 6 months to 5 years, and the APR starts from 6.95%, while amortization is 20 years.

The rate for a First Plus Mortgage is 3.99%, and the amortization period is 25 years. For a Developer’s Mortgage, the rate is 8.5%, and the amortization period is 25 years.

What is more, Capital Direct not only provides money for the loan but also works with different mortgage brokers, lenders, and investors.

The process of approval takes about 4-5 days. Firstly, the client must fill out the application form on the company’s website and get approved. Capital Credit’s approval system is based on the clients’ home value. Therefore, the approval depends on the customer’s amount of equity in the property. In other words, the customer’s house is a guarantee that the loan will be repaid.

Methods of loan funding

After the customer is approved for the loan, the required money will be transferred to their bank account.

FAQ

What is Capital Direct?

Capital Direct is a Canadian lending company that provides home equity loans, mortgage purchase financing, mortgage refinancing, and first and second mortgage options for Canadian homeowners. In addition, the loans can be used for home improvement and other needs such as paying for education and weddings, small businesses, buying investment properties, eco-friendly renovations, and different temporary situations. 

Who owns Capital Direct?

According to LinkedIn, Tim Wittig is a partner, Vice President, and Director at Capital Direct Lending Corp.

How do you qualify for Capital Direct?

The customer must be 18 years old or older. Capital Direct’s approval system is based on the clients’ home value. Therefore, the approval depends on the customer’s amount of equity in the property. In other words, the customer’s house is a guarantee that the loan will be repaid.

How much can you borrow from Capital Direct?

The client is able to borrow from $10,000 to $3,000,000.

Is it a legitimate company?

Capital Direct Lending is a legitimate company, and BBB accredits it. Also, their mortgage specialists are members of several organizations across Canada as IMBA, AMBA, MBABC, Calgary CCI, and others

Company documents

Privacy Policy

Our mission is to help Canadians use the equity in their homes to finance dreams and drive long-term prosperity.

© Capital Direct

Financial products

Capital Direct
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-$3,000,000
Rate
i

Effective interest rate on the product

up to 10.92%
Term
i

Loan term for the financial product

up to 25 years

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Calculate loan payments in Capital Direct

Capital Direct calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

CAD
CAD
10000 $
3000000 $
Loan term
i

Specify the loan term for the calculation

years
months
1
25

What to pay attention to when applying for a loan from Capital Direct

  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 Capital Direct 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 Capital Direct’s reviews by August 2022
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