Archive for August 2019

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Back to School Expenses: Filling Shortfalls

On August 21, 2019 / Bad Credit Borrowing, Financial Planning, Money Saving Tips, Personal Loan, Prudent Financial, Saving Money / Comments Off

School is nearly back in session and with it back-to-school expenses. Whether you have children who are heading back to school, or you’re returning to college or university and managing student loan debt, this time of year can be expensive. According to an Angus Reid poll of…

[New Video] How to Get the Loan You Need, Even with Bad Credit

On August 20, 2019 / Bad Credit Borrowing, Getting a Loan with Bad Credit, How to Get Approved For a Loan, Loan with Bad Credit / Comments Off

Learn how to get approved for a loan, even with bad credit! Download a free eBook, written by Prudent Financial – a trusted lender since 1984. Essentials on getting the loan you need. Download your free eBook today: https://www.prudentfinancial.net/getting-loan-approved-even-with-bad-credit

Options for Cutting Your Monthly Expenses By 50% — Or More!

On August 14, 2019 / Build a Strong Budget, Consolidating Debt, Consumer Proposal, consumer Proposal in Ontario, Credit Card Debt, Debt Consolidation, Debt Freedom, Debt Management, Prudent Financial, Saving Money, Second Mortgage / Comments Off

Sometimes no matter how much you try to make ends meet, your monthly expenses stretch you thin. In this case, you have two options: the first is to earn more money (easier said than done sometimes!). The second option is to reduce your monthly expenses. There are…

Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

On August 7, 2019 / Canadian Interest Rate, Mortgage Financing, Mortgage Interest Rate, Mortgage Refinancing, Mortgage Renewal, Prudent Financial, Prudent Mortgage Corp / Comments Off

Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you…

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#BackToSchool expenses can add up quickly. See these #MoneySavingTips on our blog to cut down costs:… https://t.co/tPda0m3VXJ about 6 hours ago

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The Fineprint

Here is the fine print for your Prudent loan.

Min and Max period for a Prudent loan repayment

Answer: 1-5 years

What is the maximum annual percentage rate (APR), which includes the interest rate plus fees and other costs for a year?

Answer: 5.75% plus annual fee (ranges from 10% -19%) APR* – 15.75% – 24.75% maximum (effective rate will vary).

A representative example of a Prudent loan – How is it broken down with all applicable fees

A typical 1000.00 loan, paid off over a 12 month period borrows an amount of 1020.00 which includes the $20 credit application fee. Total cost is 231.94. Payment is 104.33. This does not include optional life insurance

*Rates vary according to credit risks but at all times compliant with all applicable legislation and Prudent does not rely upon any exclusion intended for a pay day style loan company.

Liens and other searches 16.00 and up dependent on loan amount and amortization.

In some situations some security may be required.

Approval times are based on optimal situation - customer has all documents and extensive verification is not required.

Questions? We pioneered the Responsible Lender Pledge. Call us anytime and we’ll be happy to discuss your loan and what fees may be involved depending on your particular circumstances.