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  • Bridge Financing - When Is It Needed?
    don t want to have to pay two full mortgages you can get a bridge loan which is essentially an interest only loan that makes it affordable to pay for your new home until you can get the first home sold A bridge loan is also an option when you are relying on the equity that s tied up in your first home for the down payment on your new home The bridge loan can be open ended or it can have a set term but the term is usually short at either three or six months You may also not have to make any monthly payments on your bridge loan instead just paying the entire amount when the term is up In business Bridge financing is also used in certain business situations For example a bridge loan can be used in commercial real estate in the same way it is used in residential real estate to allow a business to close a deal on a property while it is waiting to get its equity out of a property it is selling It can also be used to retrieve a property from foreclosure Developers also sometimes use bridge loans to carry an uncertain project while it waits on permits or other approvals Once all approvals are in and the project is a sure go it can then get permanent financing Companies also sometimes use bridge loans to cover gaps in financing For instance a company that s in trouble may take on a bridge loan to finance its operations while it looks for a buyer A company might also get a bridge loan to cover cash needs while it readies for an initial public offering Although bridge loans serve a vital purpose they have some major drawbacks Because there is

    Original URL path: http://www.canadaprimerate.ca/bridge-financing-when-is-it-needed/ (2014-10-09)
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  • CMHC Insurance Calculator
    TD Prime Rate CMHC Insurance Calculator Use the CMHC Insurance calculator to determine how much you ll have to pay to insure your mortgage CMHC Insurance Calculator calculator powered by Be the first to comment What do you think Posted by Prime Rate Guy November 19 2013 at 2 54 pm Leave a Reply Cancel reply Name Email Website Comment Bank of Canada Prime Rate 1 00 Recent Posts Prime

    Original URL path: http://www.canadaprimerate.ca/cmhc-insurance-calculator/ (2014-10-09)
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  • Mortgage Affordability Calculator
    mortgage rates TD Prime Rate Mortgage Affordability Calculator Use our handy mortgage affordability calculator to determine how much you can safely borrow Mortgage Affordability Calculator calculator powered by Be the first to comment What do you think Posted by Prime Rate Guy November 19 2013 at 3 03 pm Leave a Reply Cancel reply Name Email Website Comment Bank of Canada Prime Rate 1 00 Recent Posts Prime Rate Canada

    Original URL path: http://www.canadaprimerate.ca/mortgage-affordability-calculator/ (2014-10-09)
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  • Canadian Mortgage Calculator | - Keeping You Up To Date On The Canada Prime Rate - Canada Prime Rate
    find out something specific such as whether a particular mortgage is affordable to you or not these could come in handy These Canadian mortgage calculator s can also be used for comparison shopping i e when you are trying to compare one mortgage with another to see which of them can provide you with the most affordable benefits Sample Canadian Mortgage Calculator These mortgage rate calculators are also useful because they can tell you exactly how much you are paying toward the interest and how much toward the principal during any specific payment This break up helps you decide the affordability of the loan in a better way For example you might wish to make some down payment on the principal of the loan so that you save on the interest The Canadian mortgage calculator shows you how much interest you pay which helps you in making this decision Then there is also the amortization calculator Basically it is the same as the mortgage rate calculator but this focuses more on the payments that you would be making per month and graphically represents your payments throughout the life of the loan which gives you a better picture of what you will be paying The graphical representation usually contains an amortization chart This amortization chart shows the schedule of the payment There are various headings here which give you a clear view of your payments Canadian mortgage calculators have different fields of display but generally they will display interest payment principal payment etc You will find out that during the initial payments you are paying more of the interest and later on you are paying more of the principal You have to fill in any data that influences the loan For example if there are any insurance payments or taxes that

    Original URL path: http://www.canadaprimerate.ca/canadian-mortgage-calculator/ (2014-10-09)
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  • Online Credit Report
    mistakes Once you have your credit report you can find out about these If there s a payment that you didn t make or a late payment mentioned that was actually on time you could ask the credit reporting agency to rectify that mistake When you submit such an application the credit reporting agency must respond to you within 30 days So this is your chance to improve your credit report Now how do you go about getting your credit report The best thing of course is to apply for the credit report online That way you get your report without much hassle and from the convenience of your home You also get the report almost instantly without needing to wait for several days for it to arrive by email But the best reason is this you can get your report yourself without involving a third party These people take commissions for something that you can very well do yourself You are entitled to one free online credit report a year from all the major credit reporting agencies So have you checked your credit report this year If for any reason you need another credit report you can get it too but you will have to pay a nominal sum However you must remember that each time you ask for your credit report it reflects badly on the overall score Also each time that you apply for finance the lenders will make a credit check This also reflects badly on your score Just as you would only apply for credit when it is absolutely essential you should also ask for your credit report only when it is absolutely necessary You must know that there are two online credit reporting agencies in the Canada they are Equifax Canada Inc and Trans

    Original URL path: http://www.canadaprimerate.ca/online-credit-report/ (2014-10-09)
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  • Canada Prime Rate Explained
    Prime Rate in the United States were the rates of interest given on loans to excellent customers who had ideal credit histories Many businesses for instance would benefit by getting their interest rate at that bottom line number While it s still possible for credit worthy individuals and businesses to get loans with that low rate of interest known as the Canada Prime Rate in today s economy it s unlikely for that to happen The rate would be used as a baseline and adjustments would be made on a variety of factors to determine the interest on a particular loan The Canada Prime Rate is generally the same or very close within large banks just as the United States Prime Rate is generally the same throughout the banking system It s also possible to get a short term loan with a lower interest rate than the Bank of Canada Prime Rate because it s not a law but rather a consensus Occasionally banks may offer rates below prime to their most outstanding credit customers in the hopes of creating new business Getting a rate lower than prime is highly unlikely today however when the Canada Prime Rate is already so low Typically the Canada Prime Rate is simply used as the lowest interest rate possible When an individual takes out a loan like a mortgage the bank calculates how far over the prime rate the interest will be and may refer to the rate as Prime plus 50 or 1 for example indicating that difference Because the Bank of Canada Prime Rate is only a baseline and not a requirement those numbers may different because of a slightly different prime rate among banks The most likely variation however is the amount added to prime for particular loans which can

    Original URL path: http://www.canadaprimerate.ca/canada-prime-rate-explained/ (2014-10-09)
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  • Contact Us
    contact us with any questions or comments about the site Advertising opportunites are available for mortgage brokers and other financial professionals Please contact us using the form below Thank you Tags Canada Prime Rate Updates Be the first to comment What do you think Posted by Prime Rate Guy May 29 2009 at 4 01 pm Leave a Reply Cancel reply Name Email Website Comment Bank of Canada Prime Rate

    Original URL path: http://www.canadaprimerate.ca/contact-us/ (2014-10-09)
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  • Disclaimer
    positions and beliefs shared are accurate and complete though obviously not all material known or obtained will be contained as distilling information into manageable quantity is in large part a goal We at www canadaprimerate ca are not responsible for any errors or omissions contained in any disseminated material and are not liable for any loss incurred as a result of using the material in any way The intent is merely to provide useful information products and services some of which we may be compensated for Nothing offered by www canadaprimerate ca should be considered personalized investment advice While our employees and or contributors may answer your general customer service questions they can not help you with specific investment questions and decisions as they are not licensed under securities laws to deal with your particular investment situation No communication by our employees and or contributors to you should be construed as personal individualized investment advice Investors should not rely on the information given by us to make investment decisions Rather investors should use the information at www canadaprimerate ca only as a starting point at most to do additional independent research so that the investor is able to make his or her own investment decision You should consult with competent professional help and read any available Prospectus or Public Company information This www canadaprimerate ca website contains or may contain forward looking statements within the meaning of Section 27A of the Securities Act of1933 and Section 21B of the Securities Exchange Act of1934 Any statements that express or involve discussions with respect to predictions expectations beliefs plans projections objectives goals assumptions or future events or performance are not statements of historical fact and may be forward looking statements Forward looking statements are based on expectations estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated Forward looking statements in this action may be identified through the use of words such as expects will anticipates estimates believes or statements indicating certain actions may could or might occur Just as our website content does not constitute investment advice and you should therefore consult a trained professional of your choosing the same is true of other disciplines where expertise is gained through education experience and skill building Thus nothing on our website or otherwise disseminated by www canadaprimerate ca in conjunction with it should be taken as medical legal accounting or other such advice When in doubt consult the hired help of your choosing as you are ultimately responsible for your own affairs CHANGE NOTICE As with any of our administrative and legal notice pages the contents of this page can and will change over time Accordingly this page could read differently as of your very next visit These changes are necessitated and carried out by www canadaprimerate ca in order to protect you and our www canadaprimerate ca website If

    Original URL path: http://www.canadaprimerate.ca/disclaimer/ (2014-10-09)
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