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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
T
Tenancy in common
Ownership of land by two or more persons; unlike joint tenancy in that the interest of the deceased does not pass to the survivor, but is treated as an asset of the deceased’s estate.
Term of loan
The actual length of time for which the money is borrowed. Anywhere from one month to 25 years. The period for which the mortgage is registered, in months.
Total debt service ratio (TDS)
Gross debt service plus payments on other debts such as bank loans, finance company loans, credit card payments, alimony, etc. as a function of the gross income of the borrower.
Transfer
To convey from one person or institution to another.
Transfer of charge
Assignment of a mortgage under the Land Titles System.
U
Underwriter (mortgage)
A person employed by a mortgage lender or mortgage broker who assesses loan applications based upon the following; Quality of real property, credit worthiness and ability to pay of the applicant and guidelines of the lender with regard to ratio of mortgage loan to value of property.
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