Borrowing in Musgrave Harbour, Newfoundland and Labrador

A loan taken out in Musgrave Harbour is governed by Newfoundland and Labrador's licensing rules, and the 2021 Census counted 946 people in the community.

The census figures for Musgrave Harbour

Population for Musgrave Harbour stands at 946 in the 2021 Census. The census records a land area of 67.3 square kilometres for Musgrave Harbour.

That gives a density of 14.1 people per square kilometre, rounded to one decimal place.

Musgrave Harbour ranks 83 by population among the Newfoundland and Labrador places on this site.

Within Newfoundland and Labrador, Musgrave Harbour is place number 83 by population in this census set, at 946 residents.

Products compared here

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

• Mortgage loans: Borrowing against residential property, including how a federally regulated lender tests the file.
• Debt relief programs: The formal and informal routes out of unmanageable debt in Canada, and who is licensed to run them.

The Newfoundland and Labrador rules that apply

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

The federal payday lending regulations, SOR/2024-114, cap the cost of borrowing at $14 per $100 advanced in Newfoundland and Labrador, which the federal Payday Lending Regulations (SOR/2024-114) list as a province that regulates the product.

At the small end of the census range, the community still borrows inside the province's licensing system.

How borrowing works locally

Joint applications combine two incomes and two sets of obligations in the same assessment.

A consumer proposal or a bankruptcy is administered by a licensed insolvency trustee rather than by a lender. A prepayment privilege allows a borrower to pay more than the scheduled amount, sometimes with a charge attached.

Musgrave Harbour is one of 322 covered Newfoundland and Labrador places, counted at 946 residents with a land area of 67.3 square kilometres.

The Musgrave Harbour page follows the same structure as every other place page, with population, land area, density and rank.

Musgrave Harbour appears in the census record with 946 residents, and the density of 14.1 people per square kilometre follows from it.

The density figure for Musgrave Harbour, 14.1 people per square kilometre, is calculated from the population and land area above.

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

For Musgrave Harbour, the two census fields above are the only local statistics used anywhere on the page.

Musgrave Harbour sits at rank 83 within Newfoundland and Labrador in this data set, and the provincial rules apply as they do elsewhere.

Nothing on the Musgrave Harbour page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

The land area recorded for Musgrave Harbour is 67.3 square kilometres, and the population is 946 residents in the 2021 Census.

At 946 residents in the 2021 Census, Musgrave Harbour is listed alongside the other covered places in Newfoundland and Labrador.

Musgrave Harbour ranks 83 by 2021 Census population among the covered places in Newfoundland and Labrador.

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.

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