Fairstone Financial
Consumer finance company within the Fairstone Bank group (formerly Duo Bank) with branches across Canada. Lends against existing home equity through secured loans, second mortgages and mortgage refinancing; it does not finance home purchases. It lends across Canada.
Prepayment-penalty method
Standard penalty (about three months' interest)
Breaking early is penalized at roughly three months' interest, an open-style penalty that is generally on the lower, more predictable end.
See what breaking a mortgage early could costWho it tends to fit
- Self-employed and business-owner borrowers
- Refinances and equity take-outs
General signals only. Approval depends on the full application; a lender that fits on paper still has to say yes.
What you can do with it
- Refinancing
Rate types
- Fixed rates
Where it lends
Across Canada
Good to know
- Published mortgage interest rates of 14.99% to 20.25%, far above bank and monoline pricing; realistic only for credit-challenged borrowers who cannot qualify elsewhere.
- Home equity lending only: refinancing, second mortgages and secured loans; no purchase mortgages.
- Terms run 12 to 60 months with amortization up to 25 years; appraisal, administration and other fees vary by province.
- Maximum loan-to-value about 80%, including any existing first mortgage.
How to reach Fairstone Financial
You deal with this lender directly, no broker required. This is educational information, not a rate quote; confirm current rates and terms directly.
Visit Fairstone FinancialEducational summary; rates, terms, and approval are set by the lender.
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Other alternative (b) lenders
Educational information about Canadian mortgages, not financial or mortgage advice. This tool is offered by Jordan Avery, Mortgage Agent (Level 2), Licence M23999999 · Maple Key Mortgages Inc., FSRA Brokerage Licence 13999 and operated by LenderSearch; figures are estimates. Confirm all rates, terms, and eligibility directly with the lender before acting.