| Kelowna Real Estate Jack McKnight (250) 862-1984 |
If your buying or selling from someone else. YOU DON"T KNOW JACK |
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Mortgage Glossary
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VARIABLE INTEREST RATE:
An interest rate that may change according to change in the index rate. See "adjustable interest rate".
VARIABLE-MATURITY MORTGAGE:
A long-term loan in which the date the balance is due may be changed to adjust the level of periodic payments.
VARIABLE RATE MORTGAGE (VRM):
See "adjustable rate mortgage".
VENDOR TAKE-BACK MORTGAGE:
See "mortgage back".
VOLUNTARY LIEN:
A claim that is recorded/registered with consent of the owner.
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©Copyright 1999, 2000, 2001. Website Upgrades Inc. All Rights Reserved. Reproduction in whole or in part is strictly prohibited except as indicated under the terms of use of this website. Use of this website signifies your agreement to the Terms of Use.
This glossary is a compilation of terms commonly used in the real estate, mortgage and construction industries. This publication has been created to provide general overview information with regard to these industries, and while generic, this information may not be applicable to all juristictions. It is provided with the understanding that the publisher is not engaged in the rendering of legal, mortgage or any other professional advice or services. If legal advice or other expert assistance is required or needed, the services of the appropriate professional should be sought and you should not rely on the information found herein. | |
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