In Ontario, provincial regulations require Loan Express to state a maximum potential loan amount on your contract, which is capped at 50% of your income. This is a regulatory requirement and not the actual amount you are approved for. The specific loan amount you qualify for is determined by our automated system, which considers various factors unique to your individual application, beyond just your income. Therefore, the 50% figure on your Ontario loan contract represents a legal maximum, while your approved amount is based on a more comprehensive assessment.
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