DURHAM HOMES FOR SALE
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March 11th, 2010 
Michelle Makos
Realtor

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Use our Mortgage Terms Glossary to learn more about mortgages and the process you'll go through to obtain one.

Adjustments on Closing

Amortization

Appraisal

Assessment

Assignment of Interest

Assumable Mortgage

Blend and Extend

Buy-Down

Buyer's Agent

Canada Mortgage and Housing Corporation (CMHC)

Cap Rate

Closing

Closed Mortgage

Commitment Letter

Compliance Letter

Connection Charges

Conventional Mortgage

Convertible Mortgage

Credit Report

Default

Double-Up

Down Payment

Equity

Five-Percent Down Program

First Mortgage

Genworth Financial Canada

Gross Debt Service Ratio (GDS)

Hedge

High-Ratio Mortgage

Home Inspection Report

Interest Rate Differential

Lien

Loan-to-Value Ratio

Mortgage Broker

Mortgagee

Mortgage Insurance

Multiple Listing Service (MLS)

Municipal Levies

Open Mortgage

Pith

Portable Mortgage

Prepayment Privilege(s)

Prepayment Penalty

Princiapal

Refinance

Registration Fees

Simple Interest

Survey

Switch

Tax Certificate

Title Insurance

Total Debt Service Ratio (TDS)

Undertaking

Underwriting

Variable Rate Mortgage (VRM)

Verification of Employment

Work Orders

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