Radius Financial
Is Part of RateShop Mortgage's Trusted Canadian Lender Network
Radius Financial:
Trusted Mortgage Lender for Canadians
History as a Mortgage Lender in Canada
Radius Financial is a trusted mortgage lender based in Canada, offering a wide array of residential and commercial mortgage products. With a strong presence in the Canadian mortgage market, Radius Financial has built a reputation for providing competitive mortgage rates, flexible products, and excellent customer service. Radius Financial operates as a licensed mortgage lender, catering to borrowers seeking various types of home financing solutions, including first-time homebuyers, those refinancing their mortgages, and commercial property investors. The company's focus on customer-centric solutions and its commitment to a seamless mortgage process has earned it a loyal following.
Types of Mortgage Products & Programs
Radius Financial provides a wide range of mortgage products for both residential and commercial clients:
Residential Mortgages:
Fixed-Rate Mortgages: Radius Financial offers fixed-rate mortgages with terms ranging from 1 to 10 years. These mortgages provide borrowers with stable, predictable payments throughout the life of the loan.
Variable-Rate Mortgages: For those willing to accept potential fluctuations in interest rates, Radius Financial's variable-rate mortgages offer lower initial rates that can adjust based on market conditions.
High-Ratio Mortgages: These mortgages are available to borrowers who have a down payment of less than 20% of the home's purchase price. Radius Financial offers competitive rates for high-ratio mortgages, making it easier for first-time homebuyers to enter the market.
Home Equity Lines of Credit (HELOC): For homeowners looking to access the equity in their property, Radius Financial offers HELOCs, providing a flexible borrowing solution.
Commercial Mortgages: Radius Financial also provides tailored mortgage products for businesses and investors looking to finance commercial real estate, including multi-family properties, office buildings, and industrial spaces.
Minimum Credit & Income Requirements
Radius Financial takes a flexible approach to underwriting and offers mortgages to a wide variety of borrowers. The minimum credit score and income requirements will depend on the type of mortgage, the size of the loan, and the applicant’s financial situation:
Credit Score: Radius typically requires a minimum credit score of 600 for most mortgage products. However, higher credit scores will usually qualify for better rates.
Income Requirements: Borrowers must demonstrate a stable income. Radius Financial considers various types of income sources, including salaried, self-employed, contract employees, and stated income programs.
First-Time Homebuyers: Radius Financial offers specialized programs for first-time homebuyers to make the process smoother, including lower down payment options and competitive rates.
Self-Employed and Stated Income: Radius is flexible with self-employed borrowers and may consider alternative documentation for those who do not have traditional income verification.
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*Advertised rates may not be offered by this lender. Mortgage lender offers are aggregated by RateShop & its Brokerage Network subject to change without notice. Speak with our mortgage broker about APR and qualification requirements.
Mortgage Underwriting Criteria for Approval
Radius Financial follows a comprehensive mortgage approval process that includes the following key criteria:
Debt-to-Income (DTI) Ratio: Radius Financial typically requires a DTI ratio of 40-45% for most applicants. A lower DTI ratio can improve the chances of approval.
Employment History: A stable work history is important. Self-employed borrowers may need to provide additional documentation such as tax returns, financial statements, or contracts to prove income.
Down Payment: The minimum down payment for a residential mortgage with Radius Financial is 5%, but a larger down payment may be required for high-ratio mortgages or to secure better rates.
Locations Serviced and Branch Presence in Canada
Radius Financial operates across Canada, serving clients from coast to coast. The company operates primarily through a network of brokers and agents, providing online and phone-based support for mortgage applications. While Radius Financial does not have a traditional retail branch presence, its mortgage brokers offer personalized services that can assist with all aspects of the mortgage process, from pre-approval to closing.
Mortgage Application Checklist
To apply for a mortgage with Radius Financial, borrowers should gather the following documents:
Proof of identity (e.g., driver’s license or passport)
Proof of income (e.g., pay stubs, tax returns, business financials for self-employed individuals)
Proof of down payment (e.g., bank statements, gift letters)
Property details (if refinancing or purchasing a home)
Credit report (Radius Financial will conduct a credit check during the application process)
Debt information (e.g., credit card statements, personal loans)
How to Start a Mortgage Pre-Approval
Getting pre-approved with Radius Financial is simple:
Fill out the online pre-approval form: Start by visiting the Radius
Financial website or contacting a mortgage broker.
Provide necessary documentation: Submit proof of income, credit history, and other required documents.
Receive your pre-approval: Radius will review your application and issue a pre-approval letter, detailing how much you qualify for and the interest rates available.
How to Get Mortgage Rates
To get current mortgage rates from Radius Financial:
Visit the Radius Financial website: Check the mortgage rates section for up-to-date information on the available rates for different mortgage types.
Contact a Mortgage Broker: For personalized rate quotes and to discuss your specific situation, reach out to one of Radius Financial’s brokers.
Use the Online Tools: Radius Financial also provides online tools that allow you to calculate potential mortgage rates based on your financial profile.
Mortgage Pre-Payment Options
Radius Financial offers a variety of pre-payment options to help homeowners pay off their mortgage faster and save on interest:
Annual Prepayments: You can make lump-sum payments of up to 20% of your original mortgage balance each year without penalty.
Increasing Payments: Radius allows you to increase your regular mortgage payments by up to 20% per year, which can significantly reduce the loan term and interest costs.
Double-Up Option: Borrowers can double their regular monthly payment once a year without incurring penalties, providing additional flexibility in paying down the mortgage faster.
Radius Financial is a well-established mortgage lender in Canada, offering competitive rates, flexible products, and personalized service for both residential and commercial borrowers. With a wide range of mortgage solutions, including options for first-time homebuyers, self-employed individuals, and those looking for high-ratio or commercial mortgages, Radius Financial is committed to helping Canadians secure the best possible mortgage. Whether you're looking to purchase your first home, refinance, or invest in commercial real estate, Radius Financial offers the expertise and support you need to achieve your homeownership goals.
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Contact Information
6 Indell Lane, Brampton ON L6T 3Y3, Canada
Local: 416-827-2626
Toll: 800-725-9946
RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador. Our Quebec Mortgage Transactions are serviced by Orbis Mortgage Group AMF# 181136.
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