CanadaMortgage.com

Our glossary has some 400 terms commonly (and not so commonly) used words and terms in the industry. Choose a LETTER below for terms beginning with the letter.

Mortgage Tools Glossary
A description of terms and details of parameters used with the Canada Mortgage calculators.
Condo Fees		How utilized in calculating required incomes
Down Payments		Parameters used for Canada Mortgage conventional financing calculator.
DS Ratios		Understanding Debt Service Ratios
Insurance Fees		for High Ratio Mortgages
Household Income		Determining qualifying income levels
% Interest		The default mortgage interest rates for our calculators
Investment		Investment Mortgages
Loan / Value		Loan to Value Ratio
Property Tax		Property Tax usage in Canada Mortgage Calculators
Rate Survey		Canada Mortgage's interest rate survey

Household Income Required

The Household Income Required figure is the minimum income required to qualify for the indicated mortgage financing.

The amounts are calculated assuming the applicants total shelter and non-shelter expenses do not exceed a Total Debt Service Ratio of 40 %. In the case of the 5% down payment program, the TDSR is set at 40%.

COMPARE RATES
TERM	OURS	BANKS
6.mo 1yr. 3yr. 5yr.	6.10% 4.85% 5.50% 5.44%	6.20% 6.65% 6.70% 6.85%