Personal Credit Application

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Welcome, instructions and suggestions - Step 1 of 11

Welcome to our secure and convenient website form!

This website form has multiple steps. Use the Next and Previous buttons to navigate.
Do not refresh your browser at any time - this will reset all your entered values.
This website form may show or hide groups of form fields, based on your previous selections.
To avoid any browser timeouts, we suggest you prepare these individual sections in advance:

1. Your Employment Information (optionally your Spouse's and/or Co-Applicant's).
2. Detailed list of your Assets.
3. Detailed list of your Liabilities.

Once you feel prepared, please click Next.

1. Are you a Member of Parama Credit Union? *

• If you answer No and your application is approved, you will be required to become a Member of Parama Credit Union.

2. Have you declared bankruptcy in the past 7 years? *

• Also answer No, if your bankruptcy has already been discharged.

We regret to inform you that you are not eligible.

3. Are you 18 years of age or older? *

• In Ontario, Canada, the legal age to enter into a contract is 18 years old.

4. Are you a permanent resident of Ontario, Canada? *

5. Do you have a valid email address? *

We regret to inform you that you are not eligible.

6. Will this Loan or Mortgage be used by or on behalf of a third party? *

7. Are you a Foreign Politically Exposed Person (PEP)? *

Loan Amount in CAD *

Type of Loan *

Mortgage (Owner Occupied)
Mortgage (Non-Owner Occupied)
Home Equity Line of Credit (HELOC)
Bridge Loan
Personal Line of Credit
Personal or Student Loan
RRSP Loan
Car Loan

Purpose of Loan *

Are you refinancing or transferring in your current mortgage from another Financial Institution? *

Are you financing a Co-Op Apartment? *

Property Address of Loan or Mortgage (must be in Ontario) *

Address

City

Province

Postal Code

Country

Estimated Purchase Price *

Your Down Payment *

Closing Date *

Source of Down Payment *

Your Full Legal Name *

First

Middle

Last

Your Email Address *

Confirm Email

Do you have a Home Phone Number? *

Your Mobile Phone Number *

• For International Numbers, prefix with a '+' and the Country Code.

Your Home Phone Number *

• For International Numbers, prefix with a '+' and the Country Code.

How would you like Parama to contact you? (select only one) *

Email
Phone

Which phone number do you prefer? (select only one) *

Mobile
Home

Your Current Address (must be in Canada) *

Address

City

Province

Postal Code

Country

How long have you lived at your Current Address?

• If less than one (1) year, you will be asked for your previous address.

# of Years *

# of Months *

Your Previous Address *

Address

City

Province / State / Region

Postal Code / ZIP Code

Is this a Joint Application? *

• If Yes, then both borrowers are equally responsible for the loan. Thus, during the application process, Parama will assess both the borrower and co-borrower's creditworthiness.

Secondary you Parama

Secondary Applicant's Full Legal Name *

First

Middle

Last

Is the Secondary Applicant a Member of Parama Credit Union? *

Same address as Primary Applicant? *

Secondary Applicant's Address (must be in Canada) *

Address

City

Province

Postal Code

Country

Your Social Insurance Number (SIN) *

Your Date of Birth *

Your Marital Status *

Number of Dependants *

For insurance purposes, please indicate: *

Are you currently retired? *

Your Occupation or Job Title *

• If retired, specify pre-retirement Occupation or Job Title.

Your Employer's Name *

• If retired, specify pre-retirement Employer’s Name.

Your Yearly Gross Income *

Your Other Yearly Income *

Secondary Applicant's Occupation or Job Title *

• If retired, specify pre-retirement Occupation or Job Title.

Secondary Applicant's Employer's Name *

• If retired, specify pre-retirement Employer’s Name.

Secondary Applicant's Yearly Gross Income *

Secondary Applicant's Other Yearly Income *

Your Current Employer's Address *

Address

City

Province / State / Region

Postal Code / ZIP Code

Your Current Employer's Phone Number *

How long have you worked at your Current Employer?

• If less than one (1) year, you will be asked about your previous employer.

# of Years *

# of Months *

What was your Occupation or Job Title with your previous employer? *

Describe your Primary Residence *

Own
Co-Own/Co-Op
Rent/Lease
Live with Family
Other

Other type of Primary Residence *

What is your total monthly cost for your Primary Residence? *

Primary Residence Purchase Price *

Estimated Current Value *

MPAC Value *

Annual Property Taxes *

Monthly Mortgage Payment *

Monthly Condo Fees *

Do you own a property other than your Primary Residence? *

List Your Additional Properties

• List your additional properties, line by line and click the “+” button on the far right to add more lines, up to a maximum of 5 lines.

Additional Property Address

Estimated Current Value

Monthly Mortgage Payment

Monthly Condo Fees or Other

Examples of asset types include real estate, car or boat, RRSP, Mutual Funds, cash or cash equivalents.
List your assets, line by line and click the “+” button on the far right to add more lines, up to a maximum of 15 lines.

List your assets, line by line:

Asset Type

Asset Details

Value in CAD

Examples of liabilities include mortgages, personal loans, credit cards, alimony, co-signer of other loans.
List your liabilities, line by line and click the “+” button on the far right to add more lines, up to a maximum of 15 lines.

List your liabilities, line by line:

Liability Type

Liability Details

Value in CAD

Agree to Terms *

By submitting this online application to Parama Credit Union Limited, hereby "Parama", the applicant(s) accepts and consents to the following terms and conditions: *

The applicant(s) are not indebted to any other Credit Union, Bank, Trust Company, Agency, Loan or Mortgage Company, either as a maker or endorser, except as stated within this application.
The statement(s) herein are made for the purpose of obtaining credit and are true to the best of my knowledge and belief.
The applicant(s) hereby agree that any misstatement of the facts contained herein or in any supporting documents shall entitle "Parama" to cancel the approval of the facility and require immediate repayment of all monies.
The applicant(s) consent to and accept this as written notice of "Parama" obtaining, storing, using, or disclosing any account, credit, personal or other information about me at any time, from, to or with any credit bureau, credit grantor, or other person in connection with any relationships between myself and "Parama" or those which "Parama" or I may wish to establish.
"Parama" and it’s service providers may use this information to:
- determine my financial situation.
- disclose it to a credit bureau, credit insurer or other financial institution in order to maintain the accuracy of information used in determining creditworthiness.
- provide me with "Parama" services and disclose it to anyone working with or for "Parama", but only as needed for providing "Parama" services.
- provide me with information and offers on your products or services, or those of others, that you believe may be of interest to me.
- use my Social Insurance Number as an aid to identify me for history matching purposes.

This is the final step and last time to click the Previous button. Only click the Submit button once.
Afterwards, you will receive an on-screen and email confirmation that your application was successfully submitted.
If you receive an error or have a question, please contact us.