The ABCs of Mortgages

PDF Version (Currently being updated)

This publication outlines the terms and conditions of your mortgage, your rights and responsibilities, and tips on how to pay your mortgage off faster.

Table of Contents

Before You Apply for a Mortgage

• Amortization
  
  
• Term
  
  
• Payment Options
  
  
• Types of Mortgages
  
  
• Down Payment
  
  
• Mortgage Default Insurance
  
  
• Credit Rating
  
  
• Special Options and Coercive Tied Selling (forced purchases)
  

Your Responsibilities

• Know Yourself - How Much Can You Afford?
  
  
• Shop Around
  

Your Rights

• When You Apply for a Mortgage - Information That Must Be Provided to You
  
  
• When Your Mortgage Agreement Changes
  
  
• When You Renew Your Mortgage
  

After You Have Applied for a Mortgage

• How to Pay Your Mortgage Off Faster
  
  
• Penalty Charges
  

Do's and Don'ts

• Before You Apply for a Mortgage
  
  
• Your Responsibilities
  
  
• Your Rights
  
  
• After You Have Applied for a Mortgage
  

Related Tools about Mortgages:

• FCAC Mortgage Calculator
  
  
• Mortgage Quiz