Financial Relief Options –
we’re here to help

Fairstone is ready and available to assist you by phone, during our regular business hours, and by appointment only in branches. To speak to a Lending Specialist, call your local branch or 800-995-2274.

We’re here to help Canadians with loans and financial relief options so they can navigate hardships caused by COVID-19.

What are your options if you’ve been financially impacted by COVID-19?

First understand your eligibility for financial support programs. To learn more visit the Government of Canada’s website.

Financial relief options for Fairstone customers

Call your local branch or 800-995-2274 to speak to a Lending Specialist about COVID-19 financial relief options that we can tailor to your individual situation. As each situation is unique, there are numerous considerations when determining the best option and what you may qualify for. To qualify for COVID-19 financial relief, you must be impacted by the pandemic.

Financial relief options may include:

  • Loan insurance: Loan insurance can cover some or all of your payments in the event of unexpected job loss or illness that prevents you from working. If you have purchased loan insurance, you may qualify for coverage on your repayments.
  • Access to more money: You may qualify for additional money to pay bills and cover unexpected expenses.

  • Refinancing: Refinance your loan balance to make payments more manageable within your reduced income.
  • Extension of loan term: By extending your loan term, you can reduce your monthly payment and make it more manageable within your reduced income.
  • Payment deferrals: This provides you with some relief in the short term.

If you are behind on your payments:

Please speak to your Lending Specialist about how to make your payments more manageable.

If your mortgage is up for renewal:

Due to the extraneous circumstances caused by the COVID-19 pandemic, we will maintain the current terms of your mortgage for an indefinite period, without penalties. We are monitoring the situation closely and will advise when conditions return to normal. We trust that this will help alleviate the financial hardship you may be facing.

Looking for a loan?

If you need a loan to get you through this uncertain time, our Lending Specialists are available to discuss loan options with you – whether it’s for debt consolidation to unexpected expenses to emergencies, or whatever else you may need.

Loan options include:

  • Unsecured loan – borrow $500 to $20,000. Quick application process and no pre-payment penalties.
  • Secured loan – borrow $5000 to $35,000. Homeowners can access more money and lower payments.

Get started by trying our online loan quote. Or, call 800-995-2274 to speak with a Lending Specialist.

Get a loan quote

COVID-19 precautions

Our goal is to provide you with the money you need, when you need it, and with manageable payments to give you peace of mind.

We are adapting our business to better serve customers during this time. Stay safe and be well.

Loan terms range from 6-120 months. Maximum APR on personal loans is 39.99%. On a $5,000 unsecured personal loan the maximum total cost of borrowing would be $6,622.

Fairstone does not charge any administration fees on personal loans. On a secured personal loan, fees may apply and vary by province/territory. Fees may include a home valuation, title examination and insurance fees, administration fees and other applicable fees.

© 2020, TM Fairstone Financial Inc. In Ontario, Fairstone Financial Inc. is licensed as mortgage brokerage 10821.