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| Bank Rates |
Term |
Our Rates |
| 6.75% | 1 | 5.50% | | 7.25% | 2 | 5.50% | | 7.30% | 3 | 5.50% | | 7.30% | 4 | 5.50% | | 7.30% | 5 | 5.44% | | 7.65% | 7 | 6.20% | | 8.00% | 10 | 6.25% |
| Posted: 7/17/2008, OAC |
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Take advantage of the lowest interest rates in 30 years!
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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
G
Gross Debt Service Ratio (GDS)
The annual charges for principal, interest and taxes as a function of gross income of the mortgagor.
Gross income
The scheduled income from the operation of the business of the management of the property, customarily stated on an annual basis. Also refers to the total personal income (from all sources) of an individual, before taxes and other deductions.
Guarantor
A third party person without interest in the property who agrees to assume responsibility for a debt in the event of default by the mortgagor.
H
High ratio mortgage
A mortgage loan that exceeds the normal limit of a conventional first mortgage, in regard to the ratio of the loan amount to the property’s lending value; the higher loan amount is made possible by a mortgage insurance plan e.g. CMHC
Holdback
An amount of money retained by a construction lender or owner until satisfactory completion of the work performed by a contractor.
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