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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Origination Date


Synonyms:date of origination, loan origination date
Filed Under: financial-banking, mortgages
Tags: banking, mortgage
 

Definition of origination date

origination date
1. The date on which the loan is funded.

Related Terms and Acronyms:

  • amortized loan   A loan that is completely paid off, interest and principal, by a series of regular payments that are equal or nearly equal.
  • closing date (cloda)   The date a buyer takes possession of a property title.
  • interest rate (IR)   The rate a lender charges an individual to borrow money.
  • loan   Letting another party use something of value temporarily.
  • loan origination   The process of applying for a loan and the handling of that application by a lender.
  • maturity   The date when the principal balance of a loan is due and payable to the lender. Also, the date when a bond pays off its principal.
  • 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 application   A document in which a prospective borrower details his or her financial situation to qualify for a loan.
  • mortgage rate   The interest rate on a mortgage loan.
      ➥  You can compare mortgage rates using this website by clicking 'Rates' above.
  • origination fee   The fee a lender charges to process a loan. It usually includes the cost to prepare loan documents, check a borrower's credit history, inspect the property and sometimes conduct an appraisal. CanEquity will in most cases use a lender who doesn't charge this fee or we will cover the cost in full.

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