Terms with Tag Mortgage
- Direct-Payment Mortgage (DPM) — Acronym,
- Disclosure — Definition,
- A statement listing potential defects to a property, such as the possible existence of lead paint or radon.
- A statement required by most provinces that requires the creditor to tell the debtor the annual percentage rate, finance charges and other terms of a loan.
- Discount Point — Definition,
- A sum a borrower pays to a lender to decrease the interest rate of a mortgage. A point equals 1 percent of the loan amount.
- Distress — Definition,
- The right of one party to sell real or personal property belonging to another party to pay unpaid or overdue debt.
- Document Needs List — Definition,
- An inventory of papers a lender needs to underwrite a loan, usually including pay-cheque stubs, bank statements and tax returns.
- Dominion Lending Centres (DLC) — Company,
- Down Payment — Definition,
- The portion of the purchase price a buyer pays, in cash, at the time the loan originates.
- Draw Period — Definition,
- On a line of credit, the draw period is the fixed time when a borrower can make withdrawals from the account. After the draw period expires, the borrower can renew the credit line or may be required to pay the outstanding balance in full, or over time.
- Duca Financial Services Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Due-on-sale Clause — Definition,
- A condition of a mortgage that states that the loan must be paid when the house is sold. Commonly used in reverse mortgage lending.
- Dunnville and District Credit Union (DDCU) — Company Est. 1945, Dunnville, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Earl Grey Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- East Coast Credit Union — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- East Kootenay Community Credit Union (EKCCU) — Company Est. 1950, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Eastend Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Eckville District Savings & Credit Union — Company, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Edam Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Edson Savings & Credit Union — Company, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Education Credit Union (ECU) — Company, Waterloo, Ontario, Canada, ➥ Formerly Waterloo County Education Credit Union (WCECU). A Canadian NHA approved mortgage lender offering all mortgage types.
- Encumbrance — Definition,
- Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
- End Loan — Definition,
- The final mortgage on a property, as opposed to a construction or other interim loan.
- Enderby & District Credit Union — Company Est. 1947, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Energy Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Entegra Credit Union — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Envision — Company, British Columbia, Canada, ➥ A division First West Credit Union and also a Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Equity — Definition,
- Ownership in an asset.
- The value of a property minus outstanding mortgage debt and other liens.
- Equity Credit Union (ECU) — Company Est. 1942, Ajax, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Equity Take-Out (ETO) — Acronym, Very Important,
- To pull money out of a property, often through a refinance or home equity line of credit.
➥ CanEquity Mortgage offers this service. - Erickson Credit Union — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Escrow — Definition,
- An account in which money for property taxes and insurance is held until paid. Money is added to the account every time a mortgage payment is made.
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