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