Personal Loans    

To apply on-line, click here.

Whether you are thinking about borrowing to buy a car, a recreational vehicle, to renovate your home or pay for a wedding, PenFinancial can help make your priorities happen.

Options Available:

• Fixed or Variable rate loans
• Competitive rates
• Weekly, bi-weekly, semi-monthly or monthly payments available
• Payroll deduction, automatic transfers or direct deposit payments available
• No penalties on pay downs or early payouts
• Disability insurance available and can be added to your loan
• Specialty loan products available for Car Loans, RRSPs, Line- of-Credit, Overdrafts, Student Loans and Stocking Stuffer Loans

Mortgages

We offer First and Second Mortgages and Bridge Financing
Mortgages are normally granted for 80% of the appraised value of the home, thereby requiring a down payment of 20%. We also offer High Ratio Mortgages for those who qualify for Canada Mortgage and Housing Corporation (CMHC) Insurance. These mortgages can finance up to 100% (under certain conditions) of the appraised value of the home.

PenFinancial's Designer Mortgage
With this multi option mortgage product, you are able to tailer it to ensure the greatest amount of savings! Take advantage of fixed and variable rates. Minimize your legal costs and secure your future. Call today to speak with one of our Loan Officers – they would be pleased to explain the many benefits of the PenFinancial Designer Mortgage.

Before making any decisions, a resource that we would highly recommend that you access would be the Canada Mortgage & Housing Corporation (CMHC). The CMHC provides Canadians with tips and useful information on homebuying, maintenance and even home renovations.

Car Loans

Before visiting the car dealership...
Take the smart move and talk to our loan experts about PenFinancial's New and Nearly New Car Loan and drive home a great deal on your next vehicle purchase.

Student Loans

We understand that today's high tuition fees and related costs can make it difficult to afford the cost of a post-secondary education. This is especially true when a student does not qualify for OSAP. PenFinancial's student loan is your answer to the rising cost of education. It allows you to borrow for your education at a great interest rate with flexible terms that make it realistic to continue your education... and don't forget that on an annual basis, we offer 2 bursaries, one for college and one for university.

Features of the PenFinancial Student Loan:

• Borrow up to $8,000 per year
• Borrow up to $32,000 total
• Pay interest only while in school
• Principal payments commence 6 months after graduation
• Repayment terms up to 7 years
• Student borrows the money with the parent or guardian as the guarantor

See our Library for additional information on Loans & Mortgages or feel free to call or drop in and see us to learn more.