SOURCING CANADIAN LOANS AT HOME WITH SMARTER LOANS
As a personal finance expert in Canada, Ive been asked on many occasions where the best place is to look for loans in Canada.
When the time comes and you want to take out a loan in Canada the best place to start is with Smarter Loans.
Not all Canadians are aware that there are alternative ways to search for Canadian Lenders other than going to the bank.
Online comparison website Smarter Loans has been leading the way since 2016 and gained traction by consumers who want to research their options from the comfort of home.
Why Use Smarter Loans?
Why should you not use Smarter Loans should be the question?
No matter what your credit situation is Smarter Loans wants to find you the perfect lender for the loan you seek.
Using the Smarter Loans website allows you to seek any loan for any purpose all over Canada.
Having the ability to see the information from suitable, trust-worthy lenders for your situation on one page to make an informed decision not only saves time but builds customer confidence.
Ive used their website for over a year to understand how valuable their free resources and tools are for fellow Canadians.
Why?
So I could give you an honest and in-depth review like I am offering you today as a trustworthy finance blogger in Canada.
Types of Loans Available at Smarter Loans
How can I get a personal loan in Canada?
You start by searching Smarter Loans online to see what options are available to you.
For instance, if you want a personal loan you can find out what lenders are willing to lend you money, under what terms and your interest rate.
You bet they do, lets explore them all.
On their website, you will find the ability to complete all of the following tasks below which is what all consumers need.
- Loan Search
- Reviews from real customers
- Compare Lenders
- Search Credit Cards
- Visit their extensive Learning Centre and
- Apply Online to reputable lenders from Coast to Coast
For instance, whether youre a first-time homebuyer or a have bought a sold a few homes in your time always look to lenders and brokers for the best interest rates.
Going straight to the bank for a mortgage is old-school lending and youll find that with a broader opportunity of options youll save thousands of dollars over the life of your mortgage.
Mortgage Loans
- Residential
- Commercial Mortgage Loans
- Mortgage Refinancing
- Home Equity Loans
- Home Renovations Loans
Personal Loans
- Personal
- Cash Loans
- Installment Loans
- Same Day Loans
- Bad Credit Loans
- Title Loans
- Emergency Loans
- Payday Loans
- Healthcare Loans
- Online Loans
- Unsecured Loans
- Debt Consolidation Loans
Business Loans
- Merchant Cash Advances
- Working Capital Loans
- Bad Credit Business Loans
- Invoice Factoring
- For Inventory
- Renovations and Repairs
- Upgrades
- Expansions
- Emergency Expenses
- Marketing and Promotion
- Amazon Sellers
Mortgage Loans
- Residential
- Commercial
- Refinancing
- Home Equity Loans
- Home Renovations Loans
Auto Loans
- Cars, Vans, Trucks, SUVs
- Bad Credit Auto Loans
Equipment Loans
You can also get approved for Financing Loans at Smarter Loans if youre seeking to purchase any of the following;
- Agriculture and Equipment Financing
- Bus and Coach Financing
- Truck and Trailers Financing
- Boat and Yacht Financing
Starting your own business doesnt have to be difficult when you are seeking a loan to purchase equipment or vehicles.
Not everyone who goes looking for a loan understands the basics behind borrowing and lending and Smarter Loans takes the guesswork out with easy to understand information.
Who is Smarter Loans?
Smarter Loans began in 2016 and is located in Toronto, Ontario, Canada.
This company has since changed lives all over Canada offering Canadians the chance to connect with the best lenders.
Borrowing with confidence is so important because a loan is a debt that must be paid back.
You will want to find the best loan that fits your unique situation at the lowest interest rate possible.
Consumer Needs When Seeking A Loan
If a consumer understands what they are getting involved in from start to finish because of open communication and the best rates they are likely to be far more successful with the loan.
I believe there are at least six must-haves Canadian consumers desire when looking for the best online loans in Canada.
- Best Interest Rates by Comparison
- Convenience
- Excellent Customer Service
- Transparency
- Options
- Privacy and Safety
Smarter Loans offers a free Canadian resource directory that encompasses an all-in-one comparison venue.
And thats what I call a real find in an online website who goes above and beyond to bring you the best;
- Lender Options
- Transparent Loan Terms
- Competitive Interest Rates
Having this one of a kind loan comparison website in Canada allows Canadians to search with confidence for their particular loan situation.
Free Online Lending Resources
Any time I visit a website that offers free product information and real customer reviews I know they take their business seriously.
The Learning Centre at Smarter Loans is such a valuable tool for consumers looking for loan information.
Instead of wasting time visiting businesses and long phone calls all you need to do is search the learning centre for questions you need answers to.
For instance, if you want to know the pros and cons of putting 20% down on a mortgage they have you covered.
Their industry experts provide in-depth, simple to understand answers to popular queries from Canadians looking for various loan questions.
Q: Should you put 20% down on your down payment?
Lets first explain what a downpayment is. In real estate, a down payment is how much money you pay upfront towards the purchase of the home.
Related: How we saved for a downpayment on our first home
In Canada, down payments range anywhere between 5%-100%, mainly depending on the following:
- Cost of the house
- Whether its your first house
Down payments are typically shown as a percentage, so 20% of a $500,000 is $100,000. 20% is a lot of money, so its not always possible to pay that much upfront.
But if youre in a situation where you have a large chunk of change lying around, its worth considering putting down 20%.
Another popular question surrounds the new Mortgage Stress Testing in Canada.
The stress looks at how you might be affected if you were to lose your job or other worst-case scenarios.
Its a test that predicts your financial risk in order to ensure that you can recover quickly to make sure your loans continue to be paid on time.
If you consider how valuable the stress test is youll understand why it has been put in place.
You work hard for your money and understanding your future potential in the face of uncertainty is likely to be of benefit.
Online Customer Reviews
Im a huge believer that companies that allow customer reviews good or bad on their website are working hard for the people.
If there are mistakes or areas that need to be improved it is through customer reviews that businesses will thrive.
When a company gets high praise from customers its a sign that they are doing what they promise to do, serve the customers.
Great service
Ive used Smarter Loans on 2 separate occasions. Once to pay off my bills and another time for some emergency expenses.
I got funded by 2 different companies from the website and my experience was great! I appreciate the help.
Carol
As mentioned, not many Canadians arent well versed in understanding lending terms and how a loan works.
Even I had to do my research when I moved to Canada since terms and obligations are far different here than in the UK.
By visiting the Smarter Loans free online lending resources page youll have free access to their blog posts.
With over 30 industry experts who journal for Smarter Loans, youll find all the information youll need to make informed loan decisions.
If you dont find the answer youre looking for they are more than happy to have you contact them for the answers you seek.
Top Canadian Smarter Loans Lenders
What youll also notice is that Smarter Loans takes lenders in Canada that they work with seriously.
With 2020 around the corner they have reached out to companies to ask them to share a valuable tip about their company.
Going into 2020, navigating the personal loans industry can be difficult.
There are so many lending companies that its hard to figure out which ones are better to work with. Especially when you dont have all day to think about it.
This is why weve created a go-to resource for finding 2020s best personal loans in Canada.
Personal Loan Interest Rates Based On Credit Score
- What kind of interest rate will I get on my personal loan?
- Can I get a loan with poor credit?
This depends on a few factors with the most important one being how well youve paid your bills in the past.
What this translates to is how good or bad your credit history and credit score.
If you find you struggle to pay your bills on time perhaps using our free printable bill payment schedule is a Smart idea!
Even a late payment can be a strike against your credit score which impacts your ability to secure the lowest interest rates possible.
Below is a table from Smarter Loans that estimates based on your credit score what type of interest you can expect from a lender.
Compare Credit Cards in Canada
If youre in the market for a new credit card or want to see what is available to you simply search through their extensive credit card comparison inventory.
Youll find credit cards with various reward opportunities, no-fee credit cards, secured credit cards, cash-back credit cards and more.
Before just signing up for a credit card with a bonus incentive use the Smarter Loans credit card comparison widget to find what fits your lifestyle and financial situation the best.
I trust that this review will be helpful for my readers when searching for an online loan in Canada to meet or exceed their needs.
Discussion: What is most important to you when looking to secure a loan in Canada?
Leave me your comments below and Ill be sure to respond.
MR.CBB
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