How Loan Compass actually works.
We're a marketplace, not a lender. Here's exactly what we do, what we don't do, and how your information is handled.
Five steps from situation to lender match.
Each step has clearly-defined inputs, an output, and a privacy boundary. Nothing flows backwards. You can stop at any point.
A horizontal scan across two columns of lender criteria. The row that fits best gets surfaced — the rest are still visible. You see the whole grid, not just one suggestion.
You tell us about your situation
We ask the basics — loan amount, loan reason, basic income and employment. We do not ask for your SIN. We do not pull your full credit report at this stage.
We pre-match against partner-lender criteria
Each lender publishes who they tend to approve. We soft-match your situation against those criteria and surface the lenders most likely to fit. Nothing is shared with anyone yet.
You see your matches side-by-side
Each card shows the rate, the term, any fees, and a match score. You can sort, filter, and read the fine print before you commit to anything.
You apply directly with the lender of your choice
You pick the lender that fits. We hand you off to that lender — and only that lender. The lender does the formal underwriting and may run a hard credit check at this point (you'll see a clear notice before that happens).
You hear back from the lender directly
Loan Compass steps out of the picture. The lender approves, declines, or counter-offers based on their own underwriting. The conversation continues with them, not us.
What we don't do. A short list.
We're a marketplace, not a balance-sheet lender. Money never originates from Loan Compass.
Comparing on Loan Compass does not affect your credit score. A hard pull only happens if you choose to apply with a lender.
Information stays with us until you select a lender. We share with that lender only — never with anyone else.
We don't make money from interest or fees on your loan. The lender pays us a flat referral fee, the same regardless of which lender you pick.
How Loan Compass makes money.
Lenders pay us a referral fee when you apply with them. That fee does not change your rate or terms — the lender absorbs the cost. We're paid the same regardless of which lender you choose, so we have no incentive to push one over another. The match is based on fit, not on which lender pays us most.
Questions, answered.
Tap a question to expand. Or jump straight to the comparison — start here →
No. The pre-match step is a soft inquiry against published lender criteria. A hard credit check only happens if and when you choose to apply directly with a lender — and that lender will tell you before it happens.