How to apply for a loan?
To apply for a mortgage by RFA, customers need to calculate their expenses and income and realize whether they can afford it or not. Then, as soon as they are done, they need to contact the company by phone or email to apply.
Requirements
Unfortunately, the requirements that the company has are not very clear. However, customers need to meet some basic requirements to be approved for a mortgage loan. For example, customers need to be over the age of majority, be Canadian citizens and provide some personal information like name, address, phone number, email, and ID. Also, they can use several eligibility calculators to determine whether they can afford the mortgage.
Application details
The application is simple enough to be completed in one day, and if customers have a broker, it becomes easier. First, customers must provide employment details like their current job, income, employment history, and financial details like assets and liabilities. Also, they will need to enter their personal information like name, address, phone number, and email address and provide their government IDs. Then, customers can use an online affordability calculator. Next, they will need to enter their annual gross income, investment income, support income, and other sources and monthly expenses like credit card payments, total loan payments, car payments, support payments, and other debt payments. Finally, they need to mention their home expenses and monthly property expenses.
Customers can find the mortgage application form on the company’s website by visiting the “Mortgage” directory and clicking the “Forms” link. They will be redirected to the webpage, where they would find an application form.
