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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
88% - Very Often

Mortgage Brokerage


Synonyms:Lender, Loan Processing, brokerage, loan officer, mortgage associate, mortgage broker, mortgage specialist
Notes:CanEquity is a mortgage brokerage.
Filed Under: financial-banking, mortgages
Tags: banking, broker, mortgage
 

Definition of mortgage brokerage

mortgage brokerage
1. A mortgage professional or group of mortgage professionals who work to pair borrowers with lenders. A mortgage brokerage aims to find their clients the best mortgage products at the best mortgage rates.

Related Terms and Acronyms:

  • conventional mortgage   A mortgage that is not insured or guaranteed by CMHC or GE Capital.
  • convertible mortgage   A mortgage where the borrower has the option at specified times to change the term length.
  • low-down mortgages   Mortgages with a low down payment, usually less than 10 percent.
  • mortgage (mtg)   A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • mortgage banker   An employee of a large bank who finds financing for the general public.
  • Mortgage Broker (MB)   One who finds clients perspective lenders at generally no cost. Mortgage Brokers have a special relationship with lenders and can offer their clients the best rates and service. CanEquity goes through great lengths to ensure you are serviced by the best Mortgage Brokers in Canada.
  • mortgage insurance   Insurance that protects a lender if a homeowner fails to pay off his or her mortgage.
      ➥  CanEquity offers mortgage insurance.
  • mortgage rate   The interest rate on a mortgage loan.
      ➥  You can compare mortgage rates using this website by clicking 'Rates' above.
  • mortgage renewal   A renewal as it pertains to the mortgage industry is defined as having an existing mortgage term end and signing a new term to continue.
  • no money down mortgage   Available in Canada as a true 100% mortgage financing product.

More Related Terms and Acronyms

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Powerful Mortgage Calculator
Our mortgage calculator has been rebuilt in order to make it more powerful while at the same time, easier to use. Adjust mortgage rates, terms and amortizations or add lump sum payments and see how it affects your mortgage balance over time with our new custom generated charts and graphs.
Mortgage Calculator Amortization Schedule
 
Mortgage Rates
Competition keeps the banks on their toes. If the banks had it their way, mortgage brokers simply wouldn't exist, and they could keep their rates high. Don't let the banks rest on their laurels; apply today and get a great mortgage rate.
Mortgage Rates
 
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%