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.

RFA PayOff

Advertiser Disclosure

Repayment of loan

RFA allows customers to make several changes in their mortgage plans. For example, they can change the payment day and repayment frequency. Customers can make regular payments monthly, semi-monthly, bi-weekly, or weekly. Payments and other changes can be done within the company’s online portal interface or set up automatic withdrawals. 

Conditions of loan extension

RFA offers customers mortgage renewal solutions. Approximately 60 days prior to the maturity date of customers’ mortgages, a renewal package will be mailed to them. They will need to investigate their renewal package, then initial, sign, and return their renewal offer according to the instructions and deadlines outlined in their renewal package. Also, customers don’t need to requalify for a renewal. The advantage of accepting the renewal offer as opposed to moving their mortgage elsewhere is that customers do not need to re-qualify for a new mortgage at a new financial institution.

Early payoff 

Customers can pay off their mortgages before the end of their mortgage terms. Customers can increase their payments up to 20%. Once per year, customers can increase their regular payment by up to 20%. The increased payment will be applied to your principal balance.

RFA repayment

FAQ

How do I make a payment on RFA?

Customers can adjust their repayment schedules according to their needs and possibilities. For example, they can pay monthly, semi-monthly, bi-weekly, or weekly. Moreover, customers can set up automatic payments in the company’s online portal.

What happens if you don't pay back RFA?

If customers have no opportunity to make a regular payment, they need to contact the company’s support group immediately to find a solution. If they don’t do it, their credit score will decrease. 

Can you pay RFA early?

Yes, customers can pay their mortgages early. In addition, customers can increase their payments up to 20%.  

Can RFA sue you?

Unfortunately, there is no such information in available sources. Nevertheless, if customers delay their payments, that can usually lead to a credit score reduction, and their cases can be passed to collection agencies.

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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$500-$50,000
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7.5%
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Loan term for the financial product

60 months
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$500-$15,000
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Effective interest rate on the product

up to 46.96%
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up to 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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300
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7000.00 – 25000.00 C$
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Effective interest rate on the product

24.99 – 29.99 %
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Loan term for the financial product

3 years – 5 years
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 21.06.2024
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