Our Financing Offer
Rare Earth Venture will mortgage most properties on our web page on the following terms:
- 25% down plus the HST (15%) required at the time of closing
- The remainder will be mortgaged with a repay period of 5 years at 8% interest.
- No appraisal required and no penalty if you wish to pay out early.
Mortgage Example
Here is an example of our offering for financing a $100,000 land parcel:
| Land Price | Percent Down | Down Payment | Financed | Length in Years | Monthly Payment |
|---|---|---|---|---|---|
| $100,000.00 | 75% | $75,000.00 | $25,000.00 | 5 | $505.35 |
| $100,000.00 | 50% | $50,000.00 | $50,000.00 | 5 | $1,010.71 |
| $100,000.00 | 25% | $25,000.00 | $75,000.00 | 5 | $1,516.06 |