Solutions

Solutions

This section is designed to answer your burning mortgage questions and address everything from basic mortgage definitions to more complex insurance options.

Mortgage Glossary

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A

Amortization

The period of time required to repay a debt when making regular payments.  In the case of a mortgage loan, an amortization is most often 15, 20, or 25 years.



Appraisal

A process for estimating the market value of a particular property.



Approved Lender

A lending institution authorized by the Government of Canada through CMHC to make loans under the terms of the National Housing Act. Only Approved Lenders can negotiate mortgages which require mortgage loan insurance.



Assumption Agreement

A legal document signed by a home buyer that requires the buyer to assume responsibility for the obligations of a mortgage by the builder or the original owner.



Location

UNIT 102, 2016 SHERWOOD DRIVE
Sherwood Park, Alberta
T8A3X3