Terms with Tag Mortgage
- Horizon 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.
- Household Income (HHI) — Acronym, Important,
- The total income of all members of a household.
- Housing-equity Partnership — Definition,
- An arrangement in which one buyer lives in a home and the other has an ownership stake as an investment. The partners split the capital gain after the property is sold.
- Hudson Bay 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.
- Hybrid Adjustable Rate Mortgage (HARM) — Acronym,
- Hybrid Mortgage — Definition,
- A mortgage split into different components in order to better manage risks and costs.
- Income Approach — Definition,
- A step in the valuation process of an income property. The value is reached by estimating the annual income minus an allowance for vacancies and bad debts and then subtracting annual operating expenses, real estate taxes, and insurance premiums to obtain the net operating income. This is then converted by capitalization into a capital value.
- Independent Mortgage Broker Association of Ontario (IMBA) — Company Est. 2000, Ontario, Canada,
- Index — Definition,
- A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
- Industrial Credit and Investment Corporation of India (ICICI) — Company, India, ➥ Better known as ICICI Bank Canada, a CMHC approved mortgage lender
- Inglewood 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.
- Initial Borrower Interest Rate (IBIR) — Acronym,
- Initial Interest Rate — Definition,
- The introductory interest rate on an adjustable-rate mortgage (ARM), which usually changes at a predetermined time.
- Innovation 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.
- Instalment — Definition,
- The regular periodic payment that a borrower agrees to make the lender.
- Integris Credit Union — Company, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Interest Adjustment Date — Definition,
- The date one month prior to the beginning of amortization when accrued interest computed on the monies advanced becomes due.
- Interest Factor — Definition,
- The decimal equivalent for an interest rate on a unit amount for a period of time. Computed by interest rate divided by number of days in a basic year times the number of days accrued.
- Interest Only Payments — Definition,
- A payment plan where only the interest is paid off.
- Interest Rate (IR) — Acronym, Very Important,
- The rate a lender charges an individual to borrow money.
- Interest Rate Cap — Definition,
- A limit to the interest rate increases and decreases on an adjustable rate loan; either from one adjustment period to the next or over the life of the loan.
- Interest Rate Differential (IRD) — Acronym, Very Important,
- The penalty one pays for breaking a mortgage.
- Interest Rate Product (IRP) — Acronym,
- Interim Financing — Definition,
- The availability of funds on a daily basis to assist a developer with financing for a construction project between advances made by the lender of the construction loan.
- Interior Savings Credit Union (ISCU) — Company Est. 1939, British Columbia, Canada, ➥ Merged and acquired accounts from Okanagan Savings Credit Union in 1999 and Thompson Valley Savings Credit Union in 2002. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Investment Property — Definition,
- Property bought with the hope of it making money.
- Island Savings Credit Union — Company, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Italian Canadian Savings & 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.
- Joint Credit — Definition,
- Credit that is issued to two people based their credit reports and their combined assets and incomes. The repayment of joint credit is the responsibility of both parties.
- Joint Liability — Definition,
- The responsibility of two or more people to repay a debt
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