canadian mortgages sitemap resources contact us
canadian commercial mortgages canadian refinance mortgage canadian second mortgage canadian equity mortgage

Canadian Mortgages - A Mortgage in Canada

It is important to know the various methods through which people may acquire the items and assets they need. Individuals and companies in Canada who want to find a way to finance the purchase of a particular type of property such as a piece of land or a building can arrange for a mortgage. A mortgage is defined as a type of loan which is used to buy property. It offers a means to purchase real estate without having the obligation to pay for the full value at once.

What are the types of institutions from which one can find mortgages in Canada? Normally, individuals or groups may acquire this kind of loaning system from building societies and banks. Furthermore, one can find mortgages from companies known as mortgage lenders. Most of these institutions even give special deals for individuals using mortgages for the first time.

How do mortgages in Canada work? Generally, after having acquired the loaned amount, the person or group who borrows (the mortgagor), provides the firm that lends (the mortgagee), a lien on the actual property of the borrower. The lien serves as a legal claim on the property and as a pledge for the mortgage. Mortgages have a particular schedule for payments and rates of interest.

Finally, there are several ways on how to search for mortgages as well as mortgage lenders. First, one can consult his relatives, friends, and coworkers. These people can share first-hand experiences regarding the kinds of mortgages they have had and the banks and the lenders they got the mortgage from. In addition, a person can also search through business brochures and the Internet for mortgages.

Our site serves as a reference for those looking mortgage information in Canada. To access all of our articles, please refer to the sitemap page.



compare mortgages

Canadian Mortgages  -  Sitemap  -  Contact us  -  Resources
Legal  - 
Mortgage Canada