GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Boot


Synonyms:along with, also, as well, in addition, including, too
Filed Under: automotive, financial-banking, real-estate
Tags: automotive, banking, realty
 

Definition of boot

boot
1. A way to make an exchange of property equal. For example, if you trade in a work vehicle for a new model, the cash you pay on top of your trade in is called boot. Property or assets can also be considered boot because it does not always have to be cash to make an exchange equal.

Related Terms and Acronyms:

  • swap   An agreement between two businesses to exchange commodities, payments or other financial products to reduce the risk of volatile market conditions or to obtain a better price or rate. For example, interest rate swaps, where floating rate interest is exchanged for fixed rate interest, protects a corporation against rises in rates or allows it to take advantage of a better rate. A cross-currency swap enables two parties to enter into an agreement in which one exchanges its currency for the other's to meet their separate requirements.
  • trade equity   A swap of property, such as real estate or a car, as part of a down payment for other real estate.
  • trade-in value   The amount that the dealership will credit you for the vehicle you provide as partial or full payment for another vehicle. Amount credited is frequently about 5 percent below the wholesale value of the vehicle.

Search the Glossary

Rate Comparison Calculator
It can be hard to figure out exactly how much you can afford to spend on your home, but we're here to help. We have taken the time to redesign our top-rated mortgage calculator and made it easier to use than ever before. Compare rates, evaluate terms, and calculate multiple mortgages side-by-side.
Top Rated Mortgage Calculator
 
Who has the Best Mortgage Rate?
There are well over a hundred mortgage lenders in Canada competing for your business. Wouldn't it be nice to know who's got the best mortgage rates in Canada? Whether you want flexibility or rock-bottom rates, we will make sure you get what you need.
Canadian Mortgage Rates
 
Save Money with a Broker
Our certified mortgage brokers save you money by securing the best possible mortgage rate, providing sound advice and making certain your next mortgage is right for you!
Mortgage Brokers Save Your Money