Loan Switch
As presented in the "Services" tab, Aligned Financing is able to reduce the uncertainty for Borrower's with certain types of floating rates. Borrowers with floating rate loans should remember that interest rates are usually based on the lender's prime rate which in turn, is correlated to the Bank of Canada's overnight target rate which is typically reset eight times per year.
As an example, if a Borrower has a floating rate loan at 7.50%, Aligned Financing may be able to convert this rate into a fixed rate. The fixed rate may be higher or lower than the floating rate but the Borrower will have reduced the uncertainty associated with floating interest rates. Note the following:
As an example, if a Borrower has a floating rate loan at 7.50%, Aligned Financing may be able to convert this rate into a fixed rate. The fixed rate may be higher or lower than the floating rate but the Borrower will have reduced the uncertainty associated with floating interest rates. Note the following:
- The Borrower receives a no obligation quote first and then decides.
- Existing agreement with lender is not affected.
- The Program is exclusive to Aligned Financing Inc. and available to existing clients.