I'm with Steve. The US seems a lot less regulated then Canada in regards to loaning money. In Canada most banks have the same guidelines for stuff like that because it is the law however, I will tell you. If a rule is going to be broken it's going to be for someone that has amazing credit. Not sure how old you are or your friend is but to get "amazing" credit your talking probably 7 to 10 years of great repayment history and one thing many people don't take into account is net worth. I could have amazing credit and a great income but if I spend it all and don't show savings or an increase in worth it's yet another thing banks will knock you down for.
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