Do NOT get a mortgage with Radius Financial. Once you read the fine print, you will find ridiculous things in the mortgage agreement.
For example, if you sign for a closed fixed 5 year mortgage and want out before those 5 years are up, guess what? You are screwed and they absolutely will NOT let anyone out of their mortgage for any reason at all.
If I wanted to pay off my mortgage BEFORE the 5 year term is up that is not allowed.
THEY WILL NOT LET YOU PAY OFF YOUR MORTGAGE BEFORE THE 5 YEAR TERM IS UP. That’s right!
If you won the lottery and wanted to hand them cash for the balance on your mortgage they will NOT accept it, whether you are willing to pay a penalty or not.
The statements they send you that include a list about paying off or getting out of your mortgage are FALSE.
They have zero interest in doing what is best for the customer, even if they get all of their money PLUS interest or penalties. Signing up for a mortgage with this company is the equivalent of becoming a hostage to them for 5 years.
If mortgage rates drop during your 5 year term and you are able to get a better rate and better mortgage elsewhere…TOO BAD. What is worse is that there are NO EXCEPTIONS.
If something horrible happens to you or your spouse such as serious illness or disability and you need to re-finance they WILL NOT HELP YOU AT ALL.
They have NO COMPASSION and do not care about their clients at all. If Radius Financial is your only option for getting a mortgage, walk away and wait until you are in a better financial position to get a mortgage from a REAL BANK or CREDIT UNION who will treat you with respect.
Life is unpredictable, things happen and we can have the best intentions and plans but sometimes horrible things happen to people. Radius Financial does not care about any of that.
The ONLY WAY OUT OF YOUR MORTGAGE BEFORE 5 YEARS IS UP IS TO SELL YOUR HOME. EVEN IF YOU SELL YOUR HOME YOU WILL THEN HAVE TO PAY THEM A SEVERE INTEREST PENALTY FOR DOING SO.
Signing a mortgage with this company was one of the biggest mistakes of our lives.
When our mortgage is up, there is no way in hell I would renew with them even if they offered me 1% interest rate.
This company should be ashamed of themselves for how they treat their clients. Horrible, terrible, awful experience that we regret every single day of our lives.