Terms that are on use on this site.
There are 59 entries in this glossary.| Term | Definition |
|---|---|
| Variable Rate Mortgage (VRM) |
The interest rate is usually compounded monthly and fluctuates with the prime rate at the chartered banks. In most, but not all cases, the VRM is fully open. |
| Verification of Employment |
The lender will sometimes contact an applicant\'s employer in order to verify information provided in a mortgage application or a job letter; your income structure, length of employment, position, and so on. |
I had no idea of all of the advantages of dealing with a mortgage broker. Dave has excellent business contacts with the banks, making it easy and seamless to move from one lender to another. His contacts allowed me to receive...
Youtube
Facebook
Twitter
LinkedIn