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.
VARIABLE RATE MORTGAGE (VRM):
The interest rate is usually compounded monthly and fluctuates with the prime rate at the chartered banks. In most, but not all cases, the VRM is fully open.
Use our Mortgage Terms Glossary to learn more about mortgages and the process you’ll go through to obtain one.
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