Confused by different mortgage terms?
BREATHE easy. The help you need is right here.
Purchasing a home is a smart investment. Yet whether you are buying a home, refinancing or simply renewing, the mortgage you choose is an important decision. Working with an independent mortgage professional is the first thing you can do to ensure the process is simple, convenient, and in your best interest.
ASSIGNMENT OF INTEREST:
Most Provinces allow a legal assignment of interest in a mortgage to have full legal effect without having to discharge and re-register the existing one. This is particularly useful in:
- Switch situations, where the costs of transferring lenders would otherwise be very high.
- Second mortgage situations where a postponement may be difficult to obtain.
Use our Mortgage Terms Glossary to learn more about mortgages and the process you’ll go through to obtain one.
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