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Getting & applying for a mortgage loan has become so familiar, that everyone know and have an idea about it.. For more & in depth information you may scroll through our online mortgage dictionary. eLoanCanada is pleased to offer its Learning Center with variety of educational articles & a comprehensive knowledge-base to help you navigate through the world of personal finance.

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Mortgage Terms Glossary

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A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

A
Acceleration Clause - Acceptance - Accrued Interest - Adjustable Rate Mortgage Loans (ARM) - Adjustment Date - Adjustment Interval - Adjustment Period - Agreement of Sale - Amortization - Amortization Schedule - Amount Financed - Annual Percentage Rate (APR) - Application - Application Fee - Appraisal - Appraisal Fee - Appraised Value - Appreciation - Assessed Value - Asset - Assignment - Assumable Mortgage - Assumption Agreement - APR - ARM

B
Balloon Mortgage - Bankruptcy - Bequest - Bi-weekly Accelerated Payments - Bi-weekly Payments - Blanket Mortgage - Blended Payments - Bona Fide - Borrower (Mortgagor) - Broker - Broker Processing Fee - Building Code - Buy-Down Mortgage - Buyer's Market

C
Call Option - Cap - Capital Expenditure - Capital Improvement - Cash Out - Cashier's Cheque (or Bank Cheque) - Ceiling - Certificate of Title - Chattel - Closed Mortgage - Closing - Closing Costs - Collateral - Commission - Comparative Market Analysis - Compound Interest - Conditional Offer - Condominium - Consumer Reporting Agency - Contingency - Contract of Sale - Conventional Mortgage - Conversion Clause - Convertible ARMs - Convertible Mortgage - Credit Bureau - Credit Report

D
Debt-service Ratio - Deed - Default - Delinquency - Depreciation - Discharge - Discount Points (or Points) - Down Payment - Duplex

E
Easement - Effective Interest Rate - Encroachment - Encryption - Encumbrance - Equifax - Equity - Escrow - Estimated Closing Fees - Examination of Title - Exclusive Listing

F
Fair, Isaac and Co. - Fair Market Value - FICO - Filing Fees - Finance Charge - Firm Commitment - First Mortgage - Fixed Installment - Fixed Rate - Fixed-Rate Loans - Fixed-rate Mortgage (FRM) - Fixture - Flood Insurance - Foreclosure (or Repossession)

G
Grace Period - Gross Debt Service Ratio - Gross Income - Guideline Ratios

H
High Ratio Mortgage - Home Equity Line of Credit - Home Inspection - Homeowners Insurance

I
Income Property - Initial Interest Rate - Installment - Insurance - Interest - Interest Rate

J
Joint Liability - Joint Tenancy

L
Late Charge - Lease - Lender - Lender Fees - Lender Processing Fee - Lien - Line of Credit - Loan Application - Loan Application Fee - Loan Term - Loan-to-Value Ratio (LTV) - Lock or Lock-In - Lock-in Period

M
Manufactured Home - Margin - Maturity - Monthly Mortgage Payment - Monthly Principal and Interest (P&I) Payment - Mortgage - Mortgage Banker - Mortgage Broker - Mortgage Insurance - Mortgage Insurance Premium - Mortgage Life Insurance - Mortgage Loan - Mortgage Loan Insurance - Mortgage Term - Mortgagee - Mortgagor

N
Negative Amortization - Non-Assumption Clause - Note - Notice of Default

O
Open Mortgage - Original Principal Balance - Origination Fee - Owner Financing

P
P.I. (Principal & Interest) - P.l.T. (Principal, Interest, & Taxes) - Payment Change Date - Payment Schedule - Penalty - Per Diem Interest - PITI - Points (or Discount Points) - Power of Attorney - Pre-approval - Pre-approved Mortgage - Prepaid Expenses - Prepaid Interest - Prepayment - Prepayment Option - Prepayment Penalty - Pre-qualification - Prime Rate - Principal - Property Taxes - Purchase Agreement - Purchase and Sale Agreement

Q
Qualifying Ratios - Quitclaim Deed

R
Rate (interest) - Real Financing Cost - Real Property - Recission - Refinance Transaction - Refinancing - Rent Free - Right of First Refusal - Roll-over Mortgage

S
Sales Agreement - Second Mortgage - Security - Semi-monthly Payments - Single Family - Structural Improvements - Survey - Sweat Equity

T
Tax Lien - Tax Sale - Term - Third Party Fees - Title - Title Insurance - Title Search - Total Payments - Trans Union - Transfer Tax - Trustee

U
Underwriting - Underwriting Fees - Unsecured Loan

V
Variable Rate Mortgage (Floating Rate) - Variable Rate - Vendor Financing (Balance of Sale) - Vendor-Take-Back

W
Waiver - Walk-through - Weekly Accelerated Payments

Z
Zoning Regulations - Zero Down Payment

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