GLOSSARY OF MORTGAGE TERMS

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A.
AGREEMENT OF PURCHASE AND SALE, AMORTIZE, AMORTIZATION PERIOD, APPRAISAL, APPRAISAL VALUE, ARREARS, ASSIGNMENT OF MTG, ADVANCE MONEY

B.
BLENDED PAYMENTS, BORROWER, BROKERAGE FEE

C.
CHARGE, CHARGE/MTG OF LAND, CHATTELS, CHATTEL MORTGAGE, CLOSED MORTGAGE, CLOSING (DATE), CMHC, CMHC OR GEMICO, COMMITMENT, COMMITMENT LETTER, CONDITIONAL OFFER, CONSTRUCTION LIEN, CONVENTIONAL MTG, CONVERTIBLE MTG, COVENANT, CONVEYANCE,CREDIT REPORT

D.
DEED, DEFAULT, DEPOSIT, DISCHARGE OF MORTGAGE, DISCHARGE STATEMENT, DOWN PAYMENT

E.
EQUITY, EQUITY FINANCING

F.
FINDER'S FEE, FIRE INSURANCE, FIRM OFFER, FIRST TIME BUYER, FIXED RATE MORTGAGE, FORECLOSURE

G.
GIFT LETTER, GROSS DEBT SERVICE, GUARANTOR

H.
HIGH RATIO MORTGAGE, HOLDBACK

I.
INCOME VERIFICATION, INSPECTION, INTERM FINANCING, INTEREST, INT. ADJ. DATE, INTEREST ONLY LOAN, INTEREST RATE

L.
LEASEHOLD MTG, LENDER, LENDING VALUE, LETTER OF DIRECTION, LIEN, LOAN TO VALUE RATIO

M.
MARKET VALUE, MATURITY DATE, MORTGAGE, MORTGAGE BROKER, MORTGAGE BACKED SECURITIES (MBS), MORTGAGEE, MORTGAGOR, MORTGAGE LIFE INS., MORTGAGE PRIORITY, MORTGAGE TERM

O.
OFFER OF PURCHASE, OPEN MORTGAGE, OWNER-OCCUPIED

P.
PER DIEM, PORTING, POWER OF SALE, PRE-APPROVAL LETTER, PRE-AUTHORIZED PAYMENT, PREPAYMENT OPTION, PREPAYMENT PENALTY, PRINCIPAL, PRINCIPAL INTEREST, PRIOR CHARGE

R.
REFINANCING, REGISTERED MORTGAGE, RELEASE OF COVENANT, RENEWAL

S.
SECURITY

T.
TERM, TITLE INSURANCE, TOTAL DEBT SERVICE, TRANSFER OF CHARGE

U.
UNDERWRITING

V.
VARIABLE RATE, VENDOR TAKE BACK

W.
WAIVER OF INSURANCE

Z.
ZONING