Tag

mortgage terminology
Published: • The Meaning of Down Payment VS Deposit can be confusing… First time buyers can sometimes get confused by terminology. For example, they understand you have to make a deposit when your Offer to Purchase is accepted, but may not be sure if this deposit is included in or separate from their down payment....
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Published: • Mortgage Vocabulary: What’s the Difference Between ‘Amortization Period’ and ‘Mortgage Term’? Mortgage professionals often fall into the trap of presuming knowledge and understanding of our terminology that simply isn’t there – especially with first time home buyers. I was reminded of this when an intelligent, financially responsible new buyer recently asked us how...
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Published: • Mortgage Lenders are not always comfortable with assigning a mortgage Some people sign up to buy a new condo at the pre-construction phase, and years later before they take possession, their circumstances no longer make sense to complete the transaction. It can happen with new houses too, but far less often. They prefer...
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