FAQ’s

Frequently Asked Questions

“We won’t just leave you a loan.”

Loanerr is a personal finance-meets-brokerage company, and we love what we do.


Comprising a team of real estate brokers, developers, designers, customer service reps and more, we come to work everyday with high aspirations: to inspire a workplace and customer-focused culture that is transparent, efficient and excitable.


Our goal is to provide honest-to-goodness positive and expedient results for well-informed clients. Our solutions are exploratory and educational.

 

We’re all about making personal finance less about transactions and more about transformational journeys, and invite you to join us.

What does Loanerr do?

Loanerr provides a transparent, educational and customer-focused marketplace for you to access a variety of financial services all in one central hub.

What makes us different is our comparison tool which offers lending products from over 33 different lenders.

This tool allows you to compare and calculate monthly payments on exclusive-to-Loanerr interest rates for mortgages, auto loans, credit cards and lines of credit, so that you can choose the products you want at rates not available to the mainstream market.   

All application-based help and assistance services are provided by our customer service representatives, impartial and commission-free. You’ll get updates with real-time personal dashboard notifications ensuring that you’re always informed about your profile’s progress.

The best part of our commitment to your financial happiness is our rewards program. We love giving out goodies for hard work!  

Our ultimate goal is to work with you in finding financial freedom – from your first mortgage to refinancing a current mortgage – and everything in between.    

How can I work with Loanerr?

People at all stages in their personal finance goals and needs are free to use our services.

 

We invite you to reach out to us, no matter what your financial milestones are in life.

 

Thinking of how much you can afford in buying your first home or taking out a credit loan sounds like a great first start – and we’re always here to help.

 

We work with real estate agents, real estate lawyers, sellers and buyers, so everyone fits in here and all your details are streamlined to one process.

 

Loanerr is currently available to use across all 10 Canadian provinces.   

 

How does Loanerr make money? How much does Loanerr get paid?

Loanerr collects its earnings by finders’ fees. A finders’ fee simply means that we get paid only after connecting the borrower with the lender.

 

In 99% of cases, borrowers aren’t charged, making our services committed to your needs.

 

You will know how much Loanerr gets paid upon receiving a loan estimate, which is legally required from each lender by all provincial real estate boards. It will outline all closing fees along with what Loanerr will receive.

 

If you have questions, please feel free to contact our customer service representatives who will be more than happy to assist you.

Am I paying a higher rate to work with Loanerr? Shouldn’t I just get my loan/credit directly from one of the banks?

By working with Loanerr, we offer you wholesale, unrestricted brokerage rates that are lower than limited loan products you would receive directly from your bank.

 

Choosing a bank loan may seem like a safer option, but it’s more expensive.

How does getting a Mortgage/Auto Loan/Credit card/line of credit with Loanerr work?

Getting a mortgage, auto loan, credit card or line of credit all starts with a visit to our website.

 

Once there, you can answer a quick and interactive questionnaire about what type(s) of loan products you’re searching for and rates are recommended to you based on your results.

 

After choosing your preferred rate, you can register, create and customize your dashboard.

 

From your dashboard, you can access each step of your milestones, upload documents, speak to a customer service rep and more – from virtually anywhere, at any time.

How do I know that my personal and financial information is safe and secure?

Your privacy is our priority.

 

We employ state-of-the-art bank encryption software to ensure that your data is kept under lock and key only for those who need to access it.

 

We do share your data with third-party groups such as credit bureaus and title companies only for them to evaluate and approve your loan application.

 

Additionally, your data is never sold or shared with third-party vendors or marketing agencies.

How can Loanerr save me money?

We save our customers thousands by delivering competitive rates, picking only the best lenders in Canada at no risk to you.

 

This allows you to worry less about juggling paperwork and stressful meetings and ensures that we offer nothing but the best for our customers.

How does Loanerr offer products/options that others can't?

Because we’ve vetted the variety and quality of our large selection of lenders’ products before marketing them to our clients, we’re able to offer loan products that retail banks won’t.

 

Our catalogue of loan products meets the demands of all kinds of financial goals and situations, thereby offering our clients effective choices.

How does Loanerr close loans/applications faster than others?

We take away the middle man. Since everything is done online it eliminates the need for multiple meetings and physical filing of paperwork which allows the process to be completed significantly faster.

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