Variable closed:	1.95%
1 year closed:	1.99%
3 year closed:	1.99%
5 year closed:	2.04%
10 year closed:	3.19%

Mortgage Super Brokers > Library & Listings > Glossary > Definition: Dependent

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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Dependent

Synonyms:	baby, child, defenceless, helpless, minor, relies on someone
Filed Under:	legal-contracts, mortgages, taxation
Tags:	contract, legal, mortgage, taxes

Definition of dependent

dependent: 1. A person, often a child or spouse, who relies on someone else for financial support. Dependents can be claimed as exemptions which reduces the amount of your income that is taxed.

Related Terms and Acronyms:

alimony Monthly payments received by an ex-spouse. Payments must be received continuously for one year to be counted toward qualifying income for a loan.
child support (CS) Monthly payments that contribute to the care of a child. Payments must be received continuously for one year to be counted toward qualifying income for a loan.

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