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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.
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Condo Fees |
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How utilized in calculating
required incomes |
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Down Payments |
Parameters used for
Canada Mortgage conventional financing calculator. |
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DS Ratios |
Understanding Debt
Service Ratios |
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Insurance Fees |
for High Ratio Mortgages |
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Household Income |
Determining qualifying
income levels |
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% Interest |
The default mortgage
interest rates for our calculators |
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Investment |
Investment Mortgages |
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Loan / Value |
Loan to Value Ratio |
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Property Tax |
Property Tax usage
in Canada Mortgage Calculators |
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Rate Survey |
Canada Mortgage's
interest rate survey |
| Property Taxes |
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| The property tax figures used are gross amounts and
do not consider possible Home Owner Grant deductions.
If you qualify for a Home Owners Grant, adjust the figure
in the property tax input field and recalculate.
Lending institutions differ in their underwriting approach,
most will use the net property tax amounts when calculating
Debt Service Ratio's. |
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| COMPARE RATES
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| TERM
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OURS
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BANKS
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6.mo
1yr.
3yr.
5yr.
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6.10%
4.85%
5.50%
5.44%
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6.20%
6.65%
6.70%
6.85%
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