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Mortgage Glossary

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Amortization Period

Annual Percentage Rate (APR)

Annual Property Taxes

Appraised Value (Appraisal)

Asset

Breaking Your Mortgage

Closed Mortgage

Closing Date

Conventional Mortgage

Convertible Mortgage

Cost of Borrowing

Credit score

Deed

Down Payment

Early Renewal

Estimated Value

Estoppel Certificate

First Mortgage

Fixed Rate Mortgage

Guarantor

High Ratio Mortgage

Home Equity

Interest Rate

Interest Rate Adjustment

Interest rate differential (IRD)

Land Transfer Tax

Loan to Value (LTV) Ratio

Lump Sum Payment

Maturity Date

MLS Listing

Mortgage

Mortgage Affordability

Mortgage Application

Mortgage Broker

Mortgage Default Insurance

Mortgage Lender

Mortgage Life Insurance

Mortgage Loan Insurance

Mortgage Penalties

Mortgage Term

Mortgagor

Notice of Assessment

Portable Mortgage

Pre-Approved Mortgage

Prime Rate

Principal

Purchase Price

Qualification

Reverse Mortgage

Security

Stress test

Title

Title Insurance

Variable Rate Mortgage

Zoning