#1 Canadian Loan & Credit Services Online
Canadian Loans by Province
Alberta Canada
British Columbia Canada
Manitoba Canada
New Brunswick Canada
Newfoundland Canada
Northwest Territories Canada
Nova Scotia Canada
Ontario Canada
Prince Edward Island Canada
Quebec Canada
Saskatchewan Canada
Yukon Territory Canada
Nunavut Canada
Personal Loans
Payday Loans
Credit Cards
eLoanCanada is a source for all types of loans available to Canadian residents and Canadian businesses. It is designed according to the desire of a online loan seeker, Our Loans directory includes all the provinces and cities of Canada and Our education center covers all the necessary information on the major types of loans like Mortgages, Payday Loans, Personal Loans, Credit Cards, Auto Loans, Small Business Loans, Student Loans, Home Loans, Bad Credit Loans, Loan Consolidation, Canadian Banks and Canadian Credit Reports. We add new loan lenders and loan articles daily, so make sure you bookmark our site.
Highlight >
Apply Today!
eLoanCanada will best match your loan need!
Featured Partner
Global Quote
Auto Mortgage Calculator
Auto Mortgage Calculator
Auto Mortgage Calculator
Auto Mortgage Calculator
Financial Resources
Financial Tools
Apply Loan Online
Directory Canada
Auto Mortgage Calculator
Auto Mortgage Calculator
Learning Center
Auto Mortgage Calculator
Auto Mortgage Calculator
Auto Mortgage Calculator
Loan Directory
Home > Learning Center > Glossaries > Mortgage Terms Glossary
Student Loans
Loan Canada
Mortgage Explained - Mortgage Terms & Glossary!
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.
Auto Loans
Learning Center

Mortgage Terms Glossary - S

eLoanCanada! an informed  choice  about  which  loan  is  best suited for you!
Auto Mortgage Calculator
Loan Products
Apply Your Loan Online Now! Loans Available to Canadian Residents & Businessmen!
Apply Your Loan Online Now! Loans Available to Canadian Residents & Businessmen!
Confused By The Mortgage Terms and Definitions? Get The Answers Here!
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
Sales Agreement - Second Mortgage - Security - Semi-monthly Payments - Single Family - Structural Improvements - Survey - Sweat Equity

Sales Agreement - Contract signed by buyer and seller stating the terms and conditions under which a property will be sold.

Second Mortgage - An additional mortgage placed on a property that has rights that are subordinate to the first mortgage. A second mortgage is a lien in which you are given a lump sum amount that you pay off in installments over a specified period of time. Home improvement and debt consolidation loans are considered second mortgages.

Security - This refers to the address of the property being pledged as security for your loan.

Semi-monthly Payments - Payments are taken twice a month, usually on the 1st and the 15th. Payments are one half of the monthly amount. Less aggressive at attacking principle than a bi-weekly payment method.

Single Family - A residence that houses one family.

Structural Improvements - A "Structural Improvement" is any permanent improvement made to your property that is not strictly for decorating purposes. Examples include: additions, new flooring, kitchen or bathroom upgrades, new windows and central air. Swimming pools are considered structural improvements only if they are in ground and your property is in a year round warm weather climate.

Survey - A mortgage survey is a bird's eye sketch of your property that shows the boundary lines of your lot, and details any encroachments between you and your neighbors.

Sweat Equity - Value added to a property in the form of labour or services by the owner rather than by cash.
Learning Center
 Articles »
Related Feed
Ads by AdGenta.com
About Us  |  Contact Us  |  Privacy Statement  |  Terms and Conditions  |  Acknowledgements  |  Sitemap
©2005-2007 eLoanCanada.com All Rights Reserved. Web's Premier Resource For Loan Canada! Credit Help Mortgage Terms & Glossary.