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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Amount Financed


Synonyms:borrow, loan, sum
Filed Under: financial-banking, mortgages
Tags: banking, finance, mortgage
 

Definition of amount financed

amount financed
1. The amount financed refers to the principal amount that is borrowed. This amount can include the entire purchase cost along with any other items incorporated into the payments.

Related Terms and Acronyms:

  • borrow   To get a loan of money.
  • lpq amount   A term used by CanEquity which is short for Loan, Purchase or Qualification amount.
  • principal   The original balance of money lent on an outstanding loan and fees, excluding interest. Also the remaining balance of a loan, excluding interest.
  • roll in loans   A refinancing loan that rolls any closing costs or fees into the loan. These programs best serve people who have a reasonable amount of home equity, want to reduce their overall interest expense, and plan to stay in their homes.

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