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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.

LM Financial

Finanso.Multilogin™

About lender

LM Financial is a Canadian financial services company based in Mississauga, Ontario. Established in 2006, it has six locations across Canada and an extensive experience in the lending industry. The company provides lending solutions and financial strategies to people across Canada, namely, fast and accessible loans for leveraged land, debt consolidation, renovation of an existing property, refinancing a mortgage, buying an additional property, financial distress exit plans, and credit repair strategies in Canada.

LM Financial is a full-service lending company that provides financial solutions for individuals and businesses.

Features

LM Financial assists borrowers in accomplishing all financial goals, facilitating millions of dollars annually in financing for consumers. The company focuses on those with sub-prime credit histories.

Its privately owned and nationally licensed financial advisory group offers risk-averse, alternative lending solutions to clients.

LM Financial Services has developed such products as:

  • Secured financing

  • Unsecured financing

  • Title Loans

  • Financial distress exit plans

  • Short-term credit repair strategies

Pros and consBefore applying for a loan in LM Financial, it’s worth considering the main advantages and disadvantages of the borrowing process.

Pros

  • Easy online five-minute long application.

  • Various financing products offered include renewal and refinancing, debt consolidation, home purchase, and constructing financing.

  • Appropriate for individuals and businesses of all sizes.

  • Unsecured loans $15,000.

  • Financial distress exit plans.

  • A possibility to repair credit.

Cons

  • Available only to Canadian-based businesses and individuals.

  • Borrowing fee.

  • The rates and borrowable amounts are not specified.

Loan conditions

The company offers financial services for renewal and refinancing, construction financing, home purchase improvement, and debt consolidation.

  • Debt consolidation

A client can lower the cost of credit by consolidating the debt through a second mortgage or a home equity line of credit. This service reduces the monthly overhead and frees up the client’s money.

  • Renewal and refinancing

The company will appraise the client’s home value. Then, LM Financing will hold the interest rate for the client until the current mortgage expires. Then, the high-interest debts will consolidate into a lower mortgage payment without monthly bills.

  • Home purchase/improvement

LM Financial can help the clients figure out the affordable amount. The company’s specialists will provide information about the future mortgage payments to help to develop the budget. In addition, the company can help lock the client’s interest rate for the next three months. In case of the rate cut, the client also will benefit from the lower rates.

  • Construction Financing

LM Financial can finance the completion of the client's new build or renovation on time and within budget.

LM Financial requests the following documents and information:

  • The employment status.

  • Recent proof of earnings.

  • Recent proof of investments or other income.

  • Proof of identity and access to the credit score.

However, the dedicated team of professionals walks clients through the process of obtaining the financing they need to boost their credit with minimal effort.

Methods of loan funding

First, the company's specialists at the application stage determine which type of financing will benefit the client most. Then credit analysts develop a unique credit recovery strategy focusing on sustainable and fast results.
The application process is simple:

  1. The client visits the company’s website, verifies their identity, and completes the application.

  2. Agent Follow Up - the agent will follow up and verify the client’s application. This period includes the collection of all client’s documents (IDs)

  3. Underwriting - the approval stage which leads to the commitment between the client and LM Financial

  4. Legals - the company’s lawyers prepare papers for signing and property registration.

  5. Funding - paying out debts, liens, accounts, or arrears. The company does not specify how this is performed.

FAQ

What is LM Financial?

LM Financial is a Canadian financial services company based in Mississauga, Ontario. Fast and accessible loans for leveraged land, debt consolidation, renovation of an existing property, refinancing a mortgage, buying an additional property, financial distress exit plans, and credit repair strategies in Canada.

Who owns LM Financial?

LM Financial Inc. operates LM FinancialServices. Its managing partners are Alexander Yusuf and Hari Kalantzakos.

What information should you provide to LM Financial?

LM Financial requests the following documents and information:

  • the employer and status of employment

  • Recent proof of income

  • Recent proof of investments or other earnings

  • Proof of identity and access to the credit score

How much can you borrow from LM Financial?

The company offers unsecured loans up from $1,000 to $15,000. The amounts for other products such as mortgage refinancing or debt consolidation are not specified.

Is it a legitimate company?

LM FinancialServices has more than ten years of experience in the lending industry. The company’s financial advisory group is privately owned and nationally licensed. The specialists can offer alternative lending solutions to the clients. Corporation ID: 6648681. Business Number: 838273761.

What does the application process look like?

The application process is simple, free, and fast. First, clients go to the company’s website, verify their identity, and complete the application form. Then the agent will follow up and verify the client’s application. Then the company’s lawyers prepare papers for signing. Finally, the client gets funds.

Company documents

Mortgage Inquiry Form
Client Consent Form

Our dedicated team of professionals walk clients through the process of obtaining the financing they need to boost their credit and clear up anything that might be holding them back.

© LM Financial

Calculate loan payments at LM Financial

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

LM Financial calculator
Interest rates are given in accordance with the rates of the bank in Ottawa as of 04.10.2022
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What to pay attention to when applying for a loan from LM 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 LM 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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