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

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.

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