Credence Financial Services provides products and services specifically designed to help you build wealth while reporting your payment history to the credit bureau.
Credence Financial Services is proud to offer RRSP loans as an asset accumulation tool.
Our RRSP program is unique* by offering this loan and investment opportunity to those with moderate credit scores in Canada. In order for individuals to qualify for the RRSP loan they may need to have already completed a micro loan to prove their credit worthiness.
Once this loan is approved the funds are transferred to our partnering brokerage firm where the accounts are setup and you and your new investment broker determine the best investment opportunities. From this point forward you and your broker manage your investment funds while you pay down the RRSP loan being reported on your credit file.
The RRSP loan has the following benefits:
- Improving your Credit - As the RRSP loan is paid on time it is reported on your credit file. This higher loan amount also meets the minimum loan qualification requirements for a Canadian mortgage.
- Positive Net Worth - This RRSP contribution builds a stronger net worth statement and shows fiscal responsibility to lenders.
- Investment Broker Relationship - This RRSP process creates new relationships with Independent Investment Advisors supporting your longer term investment opportunities.
* In our research to create this investment opportunity we found that the lending criteria of most financial lenders of RRSP loans were so restrictive that only those with unblemished credit could qualify. The lending criteria for our RRSP loans ensure that those with lower to moderate credit scores can still qualify for loans ranging from $2,500 to $5,000*.
Please Note: This financial loan is designed for those that have already completed a micro loan or have moderate credit scores. If you know you have a low credit score you may not qualify for this loan and will most likely need to obtain a Micro Loan before qualifying for the RRSP loan.