Mortgage Terminology

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Across
  1. 2. Net earnings plus all deductions or expenses not requiring a cash outlay. (2 words)
  2. 5. An agency that supplies credit information to credit grantors. (2 words)
  3. 7. A client’s option to move their existing residential mortgage when they move.
  4. 8. An arrangement to borrow money, secured by real estate property; a promise to pay is given.
  5. 9. Assets offered to support a credit application.
  6. 11. Total assets less total liabilities. (2 words)
  7. 12. The annual interest rates applicable to residential mortgage loans in Canada.
Down
  1. 1. The individual(s) who borrowed money.
  2. 3. Includes property, cash, GIC’s, term deposits, marketable securities and motor vehicles.
  3. 4. Current outstanding debt obligations owed.
  4. 5. When the mortgage transaction is finalized and funds are advanced. (2 words)
  5. 6. The care and responsibility a client has demonstrated regarding their financial affairs.
  6. 10. The client’s ability to repay the debt.