Mortgage Terms Used by Dreyer Group Mortgages

We have put together some basic information on mortgage terminology, mortgage costs and some tips on how to make an informed decision on your mortgage needs.

There are 20 entries in this glossary.
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Term Definition
Interest Rate

The rate of interest is a key consideration when arranging your mortgage. The interest is the payment to the lender for the use of the mortgage money.

The interest rate can be fixed (where the rate remains constant for the term) or floating (where the rate changes at regular intervals). Short term or convertible terms usually have lower interest rates and can be used to a borrower's advantage in an unstable market. These mortgages allow you to ride out a fluctuating or falling rate market until rates reach a level where you wish to "lock-in" to a longer term. On the other hand, long term rates offer stability and eliminate the need to monitor rates daily.

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About Dreyer Group

Dreyer Group is a member of the VERICO mortgage brokers network. We can help anyone nationwide, but we primarily serve BC residents in the lower mainland including Surrey, South Surrey, White Rock, Langley, Delta, Vancouver, North Vancouver, West Vancouver, Burnaby, New Westminster and Coquitlam. Dreyer Group Mortgages can provide mortgage solutions to US residents, non-residents, new immigrants and the rest of Canada. No matter where our clients are located, we are committed to providing the best mortgage rates and options in the marketplace.

About Verico

VERICO is a national mortgage brokers network. As an assembly of independently owned and operated mortgage brokers, VERICO brokers are comprised of the most trusted mortgage professionals in Canada that adhere to the highest standards of service based on professionalism, expertise and ethics. The VERICO Mortgage Network includes over 40 of Canada's most respected mortgage lenders and insurance suppliers.
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