Glossary

• Amortization
• Appraisal
• Bank of Canada
• Blended Mortgage
• Bridge Financing
• Cash Back Mortgage
• Closed Mortgage
• Closing Cost
• Conventional Mortgage
• Debt Services Ratio
• Down Payment
• First Time Home Buyers Tax Credit(HBTC)
• Fixed Mortgage Rate
• High-Ratio Mortgage
• Home Buyers Plan(HBP)
• Interest Adjustment Date(IAD)
• Land Transfer Tax
• Loan-to-Value(LTV)
• Market Value(Appraised Value)
• Mortgage Application
• Mortgage Approval
• Mortgage Broker
• Mortgage Default Insurance
• Mortgage Pre-approval
• Offer to Purchase(OTP)
• Open Mortgage
• Prepayment Options
• Prepayment Penalty
• Private Mortgage
• Rate Hold
• Removing Conditions
• Reverse Mortgage
• Skipped Payment
• Source Documents
• Statement of Adjustments
• Terms and Conditions
• Total Debt Service Ratio
• Variable Rate Mortgage