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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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ValidVariable Rate Mortgage...
 
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Variable Universal Life... — Voyage Policy
 
variable universal life insurance (VULI)Definition, Important
A form of life insurance with adjustable premiums, flexible investment options, and tax efficiency.
variable whole life (VWL) — Acronym, Very Important
vehicle service contract (VSC) — Acronym
vendorDefinition
The seller of a property.
vendor take backDefinition
Where the seller of the property provides all or some of the financing in order to sell the property.
venture capital (VC)Definition
Financial capital given to startup companies.
verbal verification of employment (VVOE) — Acronym
verification of deposit (VOD) — Acronym
verification of employment (VOE)Definition, Important
Confirmation that a loan applicant is telling the truth about where he or she works and how much he or she makes.
verification of loan (VOL) — Acronym
  ➥  A document signed by a lender or creditor verifying that a loan was approved.
verification of mortgage (VOM) — Acronym
verification of rent (VOR) — Acronym
viatical settlementDefinition
A contract where an individual agrees to sell his or her life insurance policy to a third party before their death.
viatorDefinition
A person who agrees to sell his or her life insurance policy to a third party.
Victoria Real Estate Board (VREB) — Company, Canada
virtual intermediary program (VIP) — Acronym
voidDefinition
Of no legal effect. A nullity.
void chequeDefinition
A check with the word "VOID" written on the face that cannot be cashed.
voidableDefinition
Where one party to a contract is entitled to rescind the contract at his/her option.
voluntary accidental death and dismemberment (VADD) — Acronym, Important
  ➥  A life insurance benefit that applies to an employee and their family.
voluntary disability insurance (VDI) — Acronym
voluntary life insuranceDefinition
Life insurance offered as part of an employee benefit package where the employee agrees to pay the insurance premiums.
voluntary plan disability insurance (VPDI) — Acronym
voluntary reserveDefinition
A reserve kept by an insurer for future claims that is larger than is required by government regulations.
voyage policyDefinition
Insurance that covers assets being transported by sea.
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ValidVariable Rate Mortgage...
 
Currently Displayed — Page 2
Variable Universal Life... — Voyage Policy
 

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Variable Rate Mortgage...
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Voyage Policy

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Below is a listing of our most popular mortgage product inquiries made using our online mortgage application for all of Canada.

Mortgage Product Type Inquiries
Mortgage Pre-approval21.57%
First-time Home Buyer17.26%
New Purchase15.31%
Refinance/Consolidate Debt14.19%
No Money Down discontinued11.65%
Mortgage Renewal10.16%
Other9.85%