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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E

Term Definition
Early Pay-out Penalty

Many people don't think about breaking their mortgage when they are in the midst of arranging it, however, this possibility cannot be overlooked. An individual's circumstances can change with transfer of employment, marriage breakdown, etc. Some mortgages are fully closed and cannot be broken under any circumstance. Other mortgages have a sales clause allowing for early payout of the mortgage upon an arms-length sale of the property, subject to a penalty (for example, three months interest). Some mortgages allow the borrower to break the mortgage, for any reason, upon payment of a penalty.

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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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