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Rating by Finanso®

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.

Leap Financial


About lender

Leap Financial is a financial entity that brokers conventional bank mortgages as well as helps its clients access the equity in their homes. The funds can be used for different purposes: home renovations, debt consolidation, starting or growing a business, etc. Also, the company helps refinance current mortgages. The lender has relatively mild qualification criteria and practices a loyal policy to the borrowers.

Leap Financial is registered in British Columbia and operates in the same province. The lender describes its staff as mortgage experts with 20 years of experience providing high-quality consulting and services.


Leap Financial grants a variety of credit products. Thus, the homeowners may apply for debt consolidation, home renovation, business loans, unexpected expenses, and other secured against their homes.

The corporation serves the residents of British Columbia province, and individuals only.

The credits issued by Leap Financial are any-purpose ones and borrowers may use the money in the way he/she deems necessary without verification or approval of the lender.

Mortgages may be issued at a quite low rate.

Leap Financial accepts customers with all types of credit scores. Loan approval is based on multiple criteria, with the focus on the equity in the borrower’s home.

Pros and cons


  • The borrower may use the credit money in the way he/she needs.

  • The approved rate commitment period ranges from 90-120 days from the date of application.

  • The initial application for loans does not impose any obligations.

  • A professional team of experts considers customers’ financial situations to provide personalized options tailored to meet their particular requirements and needs.

  • The lender declares it has no hidden fees.

  • The approval process is simple and fast.

  • Mortgage loan rates may be quite low and start at 1.05%.

  • The loan may be approved as soon as within 24 hours.

  • Leap Financial accepts customers of different employment statuses, including the self-employed.

  • The lender does not focus on the customer’s credit score, age, or income.


  • The corporation operates in the province of British Columbia and serves its residents only.

  • Mortgages granted by Leap Financial may be subject to early repayments penalties.

  • The website of the corporation does not publish clear criteria for customer qualification.

  • Borrowers may be obliged to pay legal, title, brokerage and valuation services, and insurance as determined by the financial institution.

  • The company works with individuals only.

Leap Financial does not pay attention to customers’ credit scores, age, or income, and it is an advantage as well as several conditions like at least 90 days of the approved rate commitment period, a simple and fast approval process, and consulting services of mortgage experts.

Among disadvantages, there is an absence of clear criteria for borrowers, early repayment penalties, and limited service - only BC. It is also a disadvantage that the corporation works with individuals only, and even the business credit will be granted to the borrower as to an individual with corresponding obligations.

Loan conditions

In general, Leap Financial may lend an amount from $10,000 to $2,500,000. The amount depends on the value of the home and assets in the home. Loans are payable over 36 months. Meanwhile, the amortization period may be as long as 30 years.

Mortgage rate may start from 1.05%, home equity loan rates are normally from 4.95% to 12.99%.

Conditions for the following loans do not of much difference. The loan rates may depend on the previous credit history with Leap Financial.

Methods of a loan funding

The loaned amount of money is deposited directly to the bank account of the customer. In general situation, the transfer does not take a lot of time, as Leap Financial have worked out a process designed to remove typical bank delays.


What is Leap Financial?

Leap Financial is a lender dealing with mortgages and home equity loans for different purposes. The corporation runs its business with residents of British Columbia province only, practicing mild qualification criteria for borrowers. An online loan application results with quick zero-obligation prequalification. The loan amount is transferred to the borrower’s account with 24-48 hours upon credit approval.

Who owns Leap Financial?

Leap Financial Inc is an owner of Leap Financial.

How do you qualify for Leap Financial?

To be qualified for a loan, the borrower should:

  • be 18 years or older,

  • be a resident of British Columbia province,

  • have a home, or apply for a mortgage.

This list of requirements is very brief and of general nature. Leap Financial does not provide detailed information on the qualification criteria, saying that any homeowner or potential owner may apply for a loan and get it depending on home value and irrespective of credit score and income.

How much can you borrow from Leap Financial?

Leap Financial provides loans from $10,000 to $2,500,000 depending on the equity the borrower has in his/her home. Home equity loans are mostly granted at rates from 4.95% to 12.99%. Meanwhile, the mortgage rate can be as low as 1.05% subject to some conditions. Loans are payable over 36 months but can be paid off earlier. The amortization period may range from 5 to 30 years.

Is Leap Financial a legitimate company?

Yes, Leap Financial is a legitimate company. It is mentioned in the lists published by BC Financial Services Authorities with proper marks of a registered company. The corporation has several reviews on the Internet evidencing it operates following the rules and regulations.

Company documents

Terms & Conditions
Privacy Policy

 Leap Financial works with you to provide a lending solution that best meets your financial needs.

© Leap Financial

Calculate loan payments at Leap Financial

With Leap Financial calculator you can calculate an approximate payment schedule for the loan

Leap Financial calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 25.09.2022
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What to pay attention to when applying for a loan from Leap Financial

  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 Leap Financial 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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