First Foundation’s Online Mortgage Glossary

Did you know that First Foundation provides a glossary of mortgage terms right on our website? We think that knowledge is power and we like our clients and our friends to be be empowered to make smart financial decisions for themselves and their families. And let’s face it – they don’t teach this stuff in school, although they should.

Whether you’re a first time buyer or have already had several mortgages, we’re sure you’ll gain a better understanding of the largest loan you’ll probably ever have in your personal name.

Test your own knowledge! Check out the following terms in our Canadian Mortgage Glossary:

Adjustable Rate Mortgage
Bridge Loan
Closing Costs
Conventional Mortgage
High Ratio Mortgage
Overnight Rate
Accredited Mortgage Professional

We’re continually adding terms and definitions to make sure you are receiving the most up to date information available. Don’t see the term you were looking for? Contact us with your questions or feel free to submit your inquiry by commenting on this blog.

While we’re at it, class, here is great little video by Investopedia that clearly and concisely explains the purpose of a mortgage – great for first time buyers! Now I’m going to turn out the lights and go to the teachers lounge for a cup of coffee… no passing notes or making out with your neighbor while I’m gone!