Category: Business
Created by: mbourgaize
Number of Blossarys: 6
Real estate transaction completion, when the parties involved agree that all legal and financial obligations have been met and the deed to the property is transferred from the seller to the buyer. ...
When the seller reduces the interest rate on a mortgage by paying the difference between the reduced rate and market rate directly to the lender or to the buyer. Source: Vancouver Island Real Estate ...
Number of years it takes to repay the entire amount of the mortgage by periodic payments to the creditor. Source: Vancouver Island Real Estate Board; Random House Webster's Unabridged Dictionary.
Current and comprehensive listing system to provide information on properties for sale. It offers the widest exposure to properties listed for sale, including exposure on the Internet. Source: ...
Mortgage that exceeds seventy-five percent of the loan-to-value ratio. It must be insured by either the Canada Mortgage and Housing Corporation (CMHC) or a private insurer to protect the lender ...
Amount that a lender will permit a borrower to use from his gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes. The Total Debt Services Ratio (TDS) is ...
First mortgage issued for up to seventy-five percent of the appraised or purchase price of the property, whichever is the lowest. Source: Vancouver Island Real Estate Board.