Terms that are on use on this site.
There are 59 entries in this glossary.| Term | Definition |
|---|---|
| Amortization |
The process of paying off the principal balance owed of the mortgage through scheduled, systematic repayments of principal and extra payments of principal at irregular intervals. Usually associated with a target period (the standard being 25 years) over which the initial blended payment is calculated. The maximum amortization period available in Canada is 40 years. |
Thank you for helping us to step forward into home ownership! Your guidance helped us to find the mortgage that was right for us. We really appreciate all of your insight - you made what was a daunting process relatively painless.
Youtube
Facebook
Twitter
LinkedIn