Terms with Tag Reverse Mortgage

  • Average Monthly Household Income (AMHI)Acronym,
    • Bank of Montreal (BMO) Bank Est. 1817, Canada-wide, Very Important,
        Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
      • Bank of Nova Scotia (BNS) Bank Est. 1832, Canada-wide, Very Important,
        • Multinational financial services provider with over 7-million customers across Canada.
        A Canadian NHA approved mortgage lender that offers all lending types. Also offers home incomes plan reverse mortgages.
      • Canada Safeway Employees' Savings and Credit Union Bank Est. 1952, Alberta, Canada,
          A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
        • Canadian Association of Retired Persons (CARP) Company, Canada,
          • Canadian Home Income Plan (CHIP) Company, Canada, Important,
              Offers a reverse mortgage called the Home Income Plan (HIP) to Canadian seniors age 55 and older.
            • Canadian Imperial Bank of Commerce (CIBC) Bank, Canada-wide, Very Important,
                A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
              • Coast Capital Savings Credit Union (CCS) Bank Est. 1940, British Columbia, Canada,
                  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
                • Coastal Community Credit Union (CCCU) Bank, British Columbia, Canada,
                    A Canadian NHA approved mortgage lender. Offers reverse mortgages.
                  • CONEXUS Credit UnionBank, Saskatchewan, Canada,
                      A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                    • Dominion Lending Centres (DLC)Company,
                      • EnvisionBank, British Columbia, Canada,
                          A division First West Credit Union and also a Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                        • First Credit Union (FCU) Bank Est. 1939, British Columbia, Canada,
                            Originated as Powell River Credit Union (PRCU). A Canadian NHA approved mortgage lender that offers all lending types and reverse mortgages.
                          • Guaranteed Income Supplement (GIS)Acronym, Canada, Important,
                              Program offered through Canada’s Old Age Security (OAS) pension providing supplement income to Canadians 65 years of age or older.
                            • Home Equity Conversion (HEC)Acronym,
                              • Home Equity Conversion Mortgage (HECM)Acronym,
                                • Home Equity Debt Bank,
                                  • Debt secured by your home.
                                • Home Equity Mortgage Conversion (HEMC)Acronym,
                                  • Home Income Plan (HIP)Acronym, Canada,
                                      Also known as a reverse mortgage.
                                    • Hongkong and Shanghai Banking Corporation (HSBC) Bank Est. 1865,
                                      • Household Income (HHI) Bank, Important,
                                        • The total income of all members of a household.
                                      • Industrial Credit and Investment Corporation of India (ICICI)Company, India,
                                          Better known as ICICI Bank Canada, a CMHC approved mortgage lender
                                        • Island Savings Credit UnionBank, British Columbia, Canada,
                                            A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
                                          • Laurentian Bank of Canada (LBC) Bank, Canada-wide,
                                              A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages. Also offers reverse mortgages.
                                            • Manitoba Society of Seniors (MSOS)Company Est. 1979, Manitoba, Canada,
                                                Promotes needs and concerns of Manitobans age 50 plus.
                                              • Median Household Income (MHI)Acronym,
                                                • Multiple Retirement Services (MRS) Acronym, Canada,
                                                    M.R.S. Trust and MRS Companies have been acquired by Laurentian Bank of Canada.
                                                  • National Bank of Canada (NBC) Bank, Canada-wide, Important,
                                                      A Canadian NHA approved mortgage lender that offers all lending types and reverse mortgage home income plans.
                                                    • National Reverse Mortgage Lenders Association (NRMLA)Company, United States,
                                                        A US mortgage term.
                                                      • Negative Amortization Bank,
                                                        • A gradual increase in loan debt that occurs when the monthly payment does not cover the entire principal and interest due. The shortfall is added to the remaining balance which creates "negative" amortization.
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