Lender History:
Founded in 1996 as Realty Financial Advisors (RFA), RFA Mortgage Corporation is a Canadian-owned mortgage finance company with over 25 years of experience in the real estate sector. Initially focused on commercial real estate investment and asset management, RFA expanded into residential lending in 2018. In 2019, RFA accelerated its growth by acquiring Street Capital Bank of Canada, subsequently rebranding it as RFA Bank of Canada. Today, RFA operates two distinct entities: RFA Mortgage Corporation, specializing in prime residential mortgages, and RFA Bank of Canada, offering alternative mortgage solutions. Together, they provide a comprehensive suite of mortgage products to Canadian borrowers.
Lender Niches
RFA Mortgage Corporation offers a range of specialized programs to meet diverse borrower needs. Their niche products include a unique Collateral Switch transfer program, a flexible non-subject rental program for investors, and a graduate program featuring both A and Alt-A rates to support new professionals. Additionally, they provide extra cashback incentives for frontline employees, making RFA an excellent choice for clients seeking tailored mortgage solutions with added benefits.
Factors to consider:
RFA offers a variety of specialized mortgage programs, but there are some important considerations. They have strict qualification criteria with no flexibility on rates and credit scores. For properties like cottages or transfers, borrowers must commit to a minimum 3-year term. RFA does provide a stated income program, which can benefit self-employed clients. However, it’s important to note that RFA operates exclusively online with no physical branches or traditional banking services.
Contact Information and Links for RFA:
Head Office Location:
1 Yonge Street, Suite 2401
Toronto, ON M5E 1E5Contact Information:
Phone: 647.259.7873 or 1.877.416.7873 Fax: 647.259.7874 or 1.877.905.7873
E-mail: customerservice@rfabank.ca
