B2B Bank loan calculator online in Canada in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.
Take advantage of our loan selection system with a free credit rating check!
B2B offers home equity lines of credit (HELOC) providing clients with revolving access to financing of up to 65% of their property’s value at a 5.20% interest rate. With a HELOC, interest applies only to a borrowed amount. The eligible properties for this line of credit are properties with 1-4 units, either new constructions or existing properties, and owner-occupied properties.
Financial products and services from B2B Bank are available to individuals through advisors only. To apply for a B2B HELOC, you need to find an advisor near you who will apply on your behalf.
To get an idea of how much interest you will pay and what your interest-plus-principal payments will look like, you can use the line of credit calculator.
There are several online calculator tools on the B2B Bank website:
Investment loan calculator to estimate the required investments to achieve your financial goals
RRSP or TFSA loan calculator to estimate the monthly loan payments
Saving for the future calculator to define how much you should save to achieve your goals
Mortgage loan calculator to get an idea of how much you can afford to borrow, estimate your regular mortgage payment amount, and compare two different mortgage scenarios
Investment Loan Excess Collateral Calculator to estimate the amount of excess collateral on the investment loan
B2B doesn’t provide a line of credit calculator on its website. Still, you can make the necessary calculations on your own on our website.
By using a line of credit calculator, you can estimate your interest-only or interest-plus-principal payments. To make these calculations, you will need to have the approximate credit amount and interest rate in mind. These estimations will help you plan your budget further.
If you are wondering what your monthly interest payments will look like with your HELOC, you can use the line of credit calculator. To make the calculations, enter the values for your principal balance and APR into the calculator.
Let’s assume your outstanding balance is $950 and your APR is 5.20%. Then, your monthly interest will be $4.06.
If you want to calculate interest-plus-principal payments for a line of credit, fill in the values for your line of credit parameters. If you are borrowing $10,000 for 12 months at a 5.20% annual interest rate, your interest-plus-principal payment will be $856.65 in the first month of the 12 months.
By adjusting the parameters of your line of credit entered into the calculator, you will see how the estimated values for the interest charged and interest-plus-principal payments change.
The calculations you make with the line of credit calculator are approximate and serve illustrative purposes only. The actual payments and interest charges may differ from the results of your calculations as long as the financing amount you can get is subject to credit approval. The interest rate offered to you by Motusbank will also depend on the bank’s assessment of your credit profile.
The interest rate for B2B home equity lines of credit is 5.20%.
You can make payments for your B2B home equity line of credit on a monthly basis.
Your interest-plus-principal payments will be different in each consequent month because your outstanding debt decreases as you repay your balance. If you’ve borrowed $10,000 for 12 months at a 5.20% annual interest rate and made an $856.65 payment in the first month, your outstanding balance reduces to $9,143.35 and the term reduces to 11 months.
