Meridian
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Review of Meridian Mortgages
Meridian has been a people-focused financial partner for over 80 years, with 88 branches in Ontario, owned by over 380,000 Ontarians.
Meridian provides flexible financial solutions tailored to diverse needs, including HELOC, rental programs, and options for rural and cottage properties. With no stress test required, Meridian offers competitive services for those seeking adaptable financing options.
Type of Lender: Credit Unions
Relevant Links: Mortgage Calculator & Client Portal
Today’s Lowest Rates from Meridian
Ideal Client
Meridian is great for first-time buyers, individuals with bruised credit, investors, and new Canadians near their branch locations who seek to take advantage of their flexible debt ratios and accommodating programs.
Special Features:
Meridian offers a range of features for their mortgage products, including Home Equity Line of Credit (HELOC) services that allow you to tap into your home's equity easily. They provide flexible debt ratios, making it easier for borrowers to qualify based on their unique financial situations. Additionally, their rental program is designed to support real estate investors, and they do not require a stress test, which can simplify the application process. While these features can be beneficial, it's important for clients to evaluate both the advantages and any potential downsides to make informed decisions.
Downsides:
When considering this lender, it's important to note that they have a limited lending area, which could restrict your options if you're looking to purchase a home outside of their specified regions. This may not be a deal-breaker for everyone, but if you have your eye on a property in a less common area, it could affect your choices. Being aware of this limitation can help you make a more informed mortgage decision that best suits your needs.
Best Suited For:
Explore More:
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Alternative Lenders
- Sep 9, 2024 NPX
- Sep 9, 2024 Home Trust
- Sep 9, 2024 Haventree Bank
- Sep 9, 2024 Community Trust
- Sep 9, 2024 Bridgewater Bank
-
Big Banks
- Sep 9, 2024 TD Canada Trust
- Sep 9, 2024 Scotiabank
- Sep 9, 2024 RBC
- Sep 9, 2024 CIBC
- Sep 9, 2024 BMO
-
Credit Unions
- Sep 9, 2024 Meridian
- Sep 9, 2024 FirstOntario Credit Union
- Sep 9, 2024 DUCA Credit Union
- Sep 9, 2024 Desjardins
-
Monolines
- Sep 9, 2024 Strive Capital
- Sep 9, 2024 RMG Mortgages
- Sep 9, 2024 RFA
- Sep 9, 2024 MERIX Financial
- Sep 9, 2024 MCAP
- Sep 9, 2024 Marathon Mortgage Corp
- Sep 9, 2024 First National
- Sep 9, 2024 CMLS Financial
-
Other Banks
- Sep 9, 2024 B2B Bank
- Sep 9, 2024 CWB Optimum
- Sep 9, 2024 Equitable Bank
- Sep 9, 2024 Manulife Bank