Borrowing in Lake of the Woods, Ontario

Lake of the Woods, Ontario, recorded a population of 308 in the 2021 Census; the rules that govern a loan signed there are provincial.

The census figures for Lake of the Woods

Population for Lake of the Woods stands at 308 in the 2021 Census. 746.2 square kilometres of land are attributed to Lake of the Woods.

The calculated density is 0.4 people per square kilometre.

Lake of the Woods ranks 468 by population among the Ontario places on this site.

Compared with the other 527 covered Ontario places, Lake of the Woods ranks 468 by population.

Products compared here

Two of the 20 covered products appear below, each with the purpose the product is designed for.

• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.
• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.

The Ontario rules that apply

Provincial or territorial law decides who may lend in Ontario, and the Financial Consumer Agency of Canada publishes the list that names the regulator responsible.

The federal Payday Lending Regulations (SOR/2024-114) count Ontario among the provinces with payday lending rules, where the published maximum cost of borrowing is $14 per $100 advanced under SOR/2024-114.

This is a small community by population, inside the lowest band used on this site, and the provincial framework applies without variation.

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

A lender's assessment looks at income, existing obligations, the credit file, and the asset pledged where there is one. A shorter term raises each payment and lowers the total interest, which is the trade every schedule makes.

At 308 residents in the 2021 Census, Lake of the Woods is listed alongside the other covered places in Ontario.

Lake of the Woods is one of 527 covered Ontario places, counted at 308 residents with a land area of 746.2 square kilometres.

The density figure for Lake of the Woods, 0.4 people per square kilometre, is calculated from the population and land area above.

Readers comparing Lake of the Woods with another community can use the same four census fields.

Lake of the Woods ranks 468 by 2021 Census population among the covered places in Ontario.

For Lake of the Woods, the two census fields above are the only local statistics used anywhere on the page.

Lake of the Woods appears in the census record with 308 residents, and the density of 0.4 people per square kilometre follows from it.

The land area recorded for Lake of the Woods is 746.2 square kilometres, and the population is 308 residents in the 2021 Census.

Where a figure for Lake of the Woods could not be verified, the page names the publisher instead of printing a number.

The Lake of the Woods page follows the same structure as every other place page, with population, land area, density and rank.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Statistics Canada's 2021 Census of Population supplies the population and land-area figures, and the federal Payday Lending Regulations (SOR/2024-114) supply the payday position.

Compare the disclosure on any agreement against the provincial ceiling, and treat the census figures as the only local statistics on the page.