A clause in a mortgage agreement which outlines the conditions governing prepayment of principal.

Read more

Refers to the components of a mortgage payment. Principal is the money used to pay down the balance of the loan. Interest is the charge […]

Read more

The lesser of the purchase price or the appraised value of a property.

Read more

Renegotiation of the mortgage for a further term.

Read more

Formally known as Genworth Canada, they are a private residential mortgage insurer that helps Canadians access a variety of affordable housing options by insuring mortgages […]

Read more

A mortgage registered against the title of a property which ranks behind the claims of the first mortgage lender.

Read more

Permits a customer with a mortgage at another financial institution to transfer the mortgage to a new lender.

Read more

The period ending at the maturity date of a mortgage loan.

Read more

A mortgage where the interest rate fluctuates based on changes in the Bank of Canada’s prime rate during the term.

Read more