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Mortgage Glossary
Mortgage Glossary
Make sure you understand the terms in your mortgage! This mortgage glossary includes a list of common mortgage related terms - each clearly and concisely defined.
If you are looking for a term that is not included in this glossary, please feel free to use the Contact form and I will do my best to assist you.
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
A
Accelerated Payments (Bi-Weekly or Weekly)
Additional Interest
Agreement of Purchase and Sale
Amortization
Amortization Period
Annual Percentage Rate (APR)
Annual Property Tax
Appraisal
Appraised Value
Approved Canadian Mortgage Lenders
Assets
Assignable Mortgage (Transferable)
Assumable Mortgage
Automatic Payment
B
Blended Payments
Blended Rate Mortgage
Bridge Financing
C
Canada Mortgage and Housing Corporation (CMHC)
Closing Date
Closing Costs
Co-Borrower
Collateral Mortgage
Conditional Offer
Condominium
Condominium Fees
Convertible Mortgage
D
Debt Service Ratios (GDSR and TDSR)
Deed (Certification of Ownership)
Default
E
Estimated Value
Estoppel Certificate
Equity
F
Fire Insurance
Firm Offer
First Mortgage
Foreclosure
G
Gross Debt Service (GDS) Ratio
Gross Household Income
Guarantor
H
High Ratio Mortgage
Holdback
Home Equity
I
Inspection
Interest
Interest Rate
Interest Rate Differential Amount (IRD)
Interim Financing
J
K
L
Liabilities
Loan to Value (LTV) Ratio
M
Maturity Date
Mortgage
Mortgage Critical Illness Insurance
Mortgage Default Insurance
Mortgage Life Insurance
Mortgage Payment
Mortgagee
Mortgagor
MLS Listing
N
O
P
Payment Frequency
Portable Mortgage
Prepayment Charge
Primary Borrower
Principal
Property Legal Description
Purchase Price
Q
R
Refinancing
Renewal
S
Security
Spread
Survey
T
Term
Title
Title Insurance
Title Search
U
V
Variable Rate Mortgage
W
X
Y
Z
Zoning