Across
- 3. An opinion of the market value of real property. (2 words)
- 4. A pre-determined amount of cash upon demand. (3 words)
- 6. The expiry date of a mortgage or loan contract, when outstanding balance is due. (2 words)
- 7. An agency that supplies credit information to credit grantors. (2 words)
- 9. Number of years or months it takes to repay the obligation in full, based upon current terms.
- 10. The client’s ability to repay the debt.
- 12. When the mortgage transaction is finalized and funds are advanced. (2 words)
- 13. Includes property, cash, GIC’s, term deposits, marketable securities and motor vehicles.
- 14. The primary client on the credit application.
- 15. An arrangement to borrow money, secured by real estate property; a promise to pay is given.
- 16. Total assets less total liabilities. (2 words)
- 17. The annual interest rates applicable to residential mortgage loans in Canada.
- 18. The individual(s) who borrowed money.
Down
- 1. Net earnings plus all deductions or expenses not requiring a cash outlay. (2 words)
- 2. A fixed period of time for which an interest rate is offered. (2 words)
- 5. Current outstanding debt obligations owed.
- 7. Payable when the purchase of a property is closed. (2 words)
- 8. A client’s option to move their existing residential mortgage when they move.
- 10. The care and responsibility a client has demonstrated regarding their financial affairs.
- 11. Assets offered to support a credit application.