Licensing Info: FSCO (Ontario) #11363,
and serving all other provinces.

Variable closed:	1.8%
1 year closed:	1.79%
3 year closed:	1.79%
5 year closed:	1.84%
10 year closed:	2.94%

Search the Glossary

GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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.

Search the Glossary

Canada's Top Mortgage Calculator

Try Canada's #1 calculator and see what kind of difference a low mortgage rate can make. A few percentage points can mean thousands in savings, it might just blow your mind.

Mortgage Rates

Don't just settle for the substandard rate your bank offers you, use a broker and get a fantastic mortgage rate.

Get Pre-approved for a Mortgage

Have you been pre-approved for a home mortgage yet? Getting yourself pre-approved will help you shop for a home by letting you know exactly how much you can afford. A Pre-approval also locks you in at our best mortgage rates for 120 days, so that when you've finally found your home, you won't miss out on Canada's historically low rates, and if our mortgage rates change within that 120 day period, we will honour the lowest rate.