The Credit Score is a numerical representation of your current and past credit and can range between 300 (the lowest score representing the worst) and 900 (the highest score representing the best). There are currently two reporting agencies operating in Canada, Equifax and TransUnion. Equifax’s credit score is called the Beacon while TransUnion’s credit score is called Empirica, but both scoring models are based on the FICO (Fair Isaac Company) model in the United States.
Credit scoring has an enormous impact on your financial picture. For a lender, your credit score plays a significant factor in the decision to lend you money, and in determining the terms and conditions of your loan.
Calculators provided on this site are helpful tools meant only as a help to provide general guideline for the user and should not be relied upon in connection with any particular transaction or situation.
If you plan to purchase a property, we recommend you consult with mortgage professional for a more thorough analysis of your current situation.
Deciding which type of mortgage is right for you will depend on what you can afford. Prepayment privileges are another important part for borrowers to consider. These arrangements allow you to pay money against the principal, reducing the total amount of interest you'll ultimately pay.
Amortization refers to the time period in which the mortgage is assumed to be paid. A common amortization period is 25 years. This means interest and principal payments are set as if you were paying the amount borrowed over a 25 year payment schedule. Obviously, the shorter the amortization period, the less interest you will pay. Learn more about arranging mortgage options available.
Lorne Park is Brantford's famous showcase horticultural park. The park is named after the Marquis of Lorne who was the Governor General of Canada from 1878 - 1883. Formerly part of the riverbed, park was low lying until it was gradually filled in after the first dikes were built.
In 1914, a study by Dunnington Grubb, a famous landscape firm, suggested that the city buy the property to enlarge Cockshutt Park as far as Lorne Bridge. By 1920 this land had been acquired to beautify the western entrance to Brantford at the river crossing.
For a short period the site was a miniature golf course called Pickwick Park. By 1936 Lorne Park was laid out in formal flower beds. At that time it also featured a bathing area.
The plantings on the south facing slope are changed annually to celebrate various important occasions. This is known as carpet bedding, an art which began in the 19th century.