There are many terms you'll hear real estate professionals use during your home buying process. While there are too many to list, these are a few you'll surely hear at least once:
Amortization: The number of years it takes to repay the entire amount of a mortgage.
Buyer Agency Agreement: Establishes a formal and exclusive relationship between the potential buyer and the broker and its representatives.
Closing Date: The date on which the title and keys to the property are transferred from the seller to the buyer, and the money is paid.
More information is available at www.wedothehomework.ca.
As licensed Real Mortgage Associates and members of the RMA group we are focused on providing you with top quality mortgage advice.