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.

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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

Loan to Value Ratio

The Loan to Value Ratio (LVR) is the ratio of Total Mortgage Debt divided by Property value.

The Property Value for lending purposes may or may not be equal to the Purchase Price. A financial institution will undertake an appraisal of the property to determine the lending value.

 

 

 

 

 

 

 

 


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