Finance your next project with TD Financial Services
To better serve our customers, Okotoks Glass Windows and Doors Ltd. is very pleased to announce that we will be offering project financing through the TD Bank.
Whether your project is $1000 or $50,000, you can obtain low-interest financing that allows you to complete your dream renovation project for an affordable monthly payment.
Frequently asked questions when considering finance
Who am I dealing with?
Okotoks Glass Windows & Doors Ltd. is acting as an agent of TD Financing for the purposes of an application for financing; finance approval and agreements will take place between the customer and TD Financing. At no time will the customer make payments to Okotoks Glass Windows & Doors Ltd. for any portion of the financing.
Will I need to go to a TD Branch?
No - as an authorized TD Financing Dealer, Okotoks Glass Windows & Doors Ltd. will provide you with the necessary forms, and complete the processing of your application. You can apply for financing in the comfort of your own home, at your convenience - or come into our office and our Finance department will help you through the application process.
Will I need collateral?
No - this financing is unsecured.
Just how low is this 'low' interest rate?
Retail financing can be as high as 29.9%, and credit card rates can range from 11.5% to 21.9%. TD Financing offers two types of rates: Fixed and Variable.
Depending on the size of your project, fixed rates range from 7.35% to 11%, and variable rates range from Prime + 2.99% to Prime + 3.24%. This rate is competitive with those offered by a secured line of credit.
What if the variable interest rate changes, will my payments go up?
No - there will be no surprises, or painful balloon payments. Variable RATES are not locked in, but PAYMENT amounts are FIXED. If additional interest is accrued over the term of the loan, TD will simply add an additional month(s) to your payment plan until the balance is paid.
How many years is financing spread over?
TD Financing offers the customer the choice of having their financing payable over a 5-year or 10-year period.
What if I want to pay it off sooner than that?
Your financing is open - you can pay it off at ANY TIME without incurring a pre-payment penalty.
What kind of monthly payment are we looking at?
With variable financing, at the current prime (01/10/11), 5-year monthly payments range from $98.39 ($5,000) to $966.41 ($50,000) and 10-year monthly payments range from $57.39 ($5,000) to $554.85 ($50,000). When you receive your quote from the sales representative, the estimated monthly project cost will be displayed.
When do I start making payments?
Your payments will not begin until the project is completed.
How long does it take for approval?
Okotoks Glass Windows & Doors Ltd. will take all the information required to enter the application to TD Financing - unless additional information is required, approval is often same-day.
What if I don't want to finance the entire project?
You can choose to finance as much, or as little, of the project as you want.
What if my project is greater than the financing limit?
Financing can be arranged up to the limit - the balance will need to be paid via cash or cheque. If the project is greater than the available financing limit, we can provide you with the name and contact information of a financing professional who would be more than happy to help you with financing alternatives.
What if extra work needs to be done?
If circumstances arise that work beyond the original scope needs to be completed (for example, unforeseen water damage is found behind a wall), TD financing can adjust the amount of financing accordingly (on approved credit). Revised loan documents showing the new amount and monthly payments would then be sent to your home for signing.
What identity verification will I need to provide to the Financing Dealer?
TD Financing will require you (and any co-applicant) to complete a Home Improvement Loan Application. You will need to provide a valid and unexpired Driver's Licence, Canadian Passport, or Canadian Fire Arm's Licence. If one of these is not available, you will be required to provide TWO of the following: Canadian Government Issued Identification Card, Canadian Old Age Security Card, Employee Identification Card (with Photo), Canadian Birth Certificate, NEXUS Card, Social Insurance Number or Canadian Permanent Residency Card. These documents will not only be used to verify your identity as an applicant, but provide the ability of TD Financing to perform a credit check.
What else do I need to provide to the Financing Dealer for my application?
A voided cheque, with your name printed on it, will be required to set up direct-withdrawal of the monthly instalments. If you do not have a voided cheque available, you can complete the Pre-authorized transaction form provided by your Financing Dealer.
What happens if I am approved?
In approximately five business days, TD Financing will send directly to your home the Loan Agreement and Confirmation Form to sign. Once these forms are completed, they can be returned to the Financing Dealer and the project can begin.
How is my privacy protected?
TD Financing's privacy agreement is available on www.tdfinancingservices.com and Okotoks Glass Windows & Doors Ltd.'s privacy agreement is available HERE