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100% financing mortgage loans allow you to cash out your home equity. Home equity is the value of your home less the debts associated with it. And since, in essence, that is your OWN money, then getting a 100% financing mortgage requires no down payment. Otherwise, it would seem to be a ridiculous set-up.

Funds gathered through a 100% financing mortgage can be used to pay off a debt, to purchase another property or even to remodel your house. Basically, by en-cashing the value of your home, you are helping yourself in addressing your more pressing financial responsibilities.

The Beauty of 100% financing

Although you are still required to pay application fees and points in a 100% financing mortgage, this type of loan has its own share of advantages. First, the fees (for instance application and closing fees) incurred can be deducted from your principal. Once again, it is essentially your own money that you are borrowing. Second, some costs associated with 100% financing are tax deductible in certain cases.

Thirdly, resorting to 100% financing allows you to enjoy a lower mortgage rate – Toronto or elsewhere – as compared to getting a second mortgage.

Qualifying for 100% financing

First, you need to have a good credit standing to qualify for 100% financing. Lenders should, first and foremost, be assured that you have the capacity to repay such a loan. Needless to say, to qualify for 100% financing, set your credit record straight.

Lenders will look at your debts: credit cards, student loans, among others. So if you want to increase your borrowing power, eliminate your debt. Show to your lender that you are capable of carefully managing your financing. Show them that you can prioritize paying off your debts. Clean up your record, so to speak.

Second, establish your capacity to pay. As with any form or credit, you need to show that you can pay your loan on a regular basis. Therefore, the need to get the best mortgage rate – Woodbridge or in any other part of Canada – is very important. This assures you of lesser amortizations.

Even in case of losing your job, you need to reassure your lenders that you can still pay the needed amortizations. Therefore, you need to have cash assets as well. You need to have savings and money market accounts. If you have these, then you will be more likely to get approved for a 100% financing mortgage.

With the many advantages of 100% financing, getting one is not always the best solution for you – given your unique circumstances. Therefore, before you make any final decision, check out your other financial options first. Shop for other mortgage products. Check out the internet for a wider choice of lenders. Should you need help, you can ask the experts in the field. They will be more than willing to help you out with this dilemma.

Once again, the primary goal of financing is to give you better terms and a friendlier interest rate. When a 100% financing mortgage cannot offer this, then maybe it is time for you to bring your business elsewhere.

Equipment Financing in Canada is a specialized type of financing. Lease financing on its own goes back hundreds of years and is a widely accepted financing tool. Major companies in Canada utilize lease financing, why shouldn’t your firm.

Lease financing covers all sorts of equipment – that includes production equipment, transportation equipment, machine tools, computers, etc. In general most Canadian banks do not offer lease financing, although two of the Chartered banks have dedicated lease operations but require a very high quality credit quality.

You should consider leasing because it’s a simple to arrange financing agreement between yourself, your vender of the equipment, and the lessor. Leasing should not be considered complicated, however Canadian leasing practices and the parties that participate are much different than in the U.S…. It benefits Canadian business owners and financial managers to ensure they understand why leasing is so popular.

Two basic types of leases are available for the Canadian business owner – they are capital and operating leases. Operating leases are often promoted by manufacturers or vendors and they often include maintenance and insurance. You should consult with an Equipment financing specialist to ensure an operating lease is right for your firm. The essence of an operating lease is that your intent is to use the equipment, but not to own it. When you enter into an operating lease ensure that you have no intention of owning the equipment at the end of term. In this case your payments will be much lower than if your intention is ownership, and you will have the benefit of some balance sheet improvement, as this lease is not shown as debt on your balance sheet. The alternative lease is a capital, or financial lease, which denotes ownership.

We can’t over emphasize the need to work with a trusted, experienced and credible advisor in this specialized area of financing in Canada. Seek out a professional that will assist you in acquiring the equipment you need and answer any questions you have about the proper rate, term and structure that your firm deserves based on overall credit and asset quality. Equipment can be new or used, and a good lease financing specialize will be pleased to assist you in maximizing the benefits of lease financing, which include:

- Better use of working capital
- Often cheaper than a term loan
- Wont restrict your current banking arrangements
- Payment flexibility
- Fixed rate financing in today’s low interest rate environment.

Specialists in any industry are a benefit. Consult a lease financing specialist for your asset acquisition needs.