Lender
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.

Apply For RFA

Advertiser Disclosure

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.

RFA application

FAQ

How long does it take to get approved by RFA?

The approval time mostly depends on factors like whether customers have a broker or not, whether they have all the documents prepared, or whether they can afford a mortgage. 

How trustworthy is RFA?

The company is a member of CDIC, so their GICs are eligible for deposit insurance protection. Also,  RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank.

Does RFA verify income?

Yes, the company verifies customers’ income as part of a mortgage application.

Does RFA hurt your credit score?

Customers' credit ratings can be harmed but only in case of default payments. If customers pay irresponsibly and irregularly, their credit scores will go down.

Financial products
RFA
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
$50,000-$1,500,000
Rate
i

Effective interest rate on the product

up to 4.89%
Term
i

Loan term for the financial product

up to 10 years
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Coast Capital Savings
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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.

Recommended FinScore™
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300
650
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$500-$50,000
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Effective interest rate on the product

7.5%
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Loan term for the financial product

60 months
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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.

Recommended FinScore™
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650
1000
$500-$15,000
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Effective interest rate on the product

up to 46.96%
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Loan term for the financial product

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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.

Recommended FinScore™
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1000.00 – 7500.00 C$
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Effective interest rate on the product

12.99 – 29.99 %
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Loan term for the financial product

2 years – 5 years
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.

Recommended FinScore™
0
300
650
1000
$1,000 - $25,000
Rate
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Effective interest rate on the product

up to 33.92%
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Loan term for the financial product

up to 60 months
Calculate loan payments in RFA

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

RFA calculator
Interest rates are given in accordance with the rates of the RFA of 10.02.2025
Loan amount
i

Enter the desired loan amount

CAD
CAD
USD
50000 C$
1500000 C$
Loan term
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years
months
1
10
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