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MUNICIPAL LEVIES:

Special levies can be charged by municipalities to recover the cost of special services, if these services cannot, for some reason, be funded out of general revenues, or apply primarily to homebuyers. Examples: Water meter installation; road improvements, sewer improvements.

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Adjustments on Closing	Amortization
Appraisal	Assessment
Assignment of Interest	Assumable Mortgage
Blend and Extend	Buy-Down
Buyer's Agent	Canada Mortgage and Housing Corporation (CMHC)
Cap Rate	Closing
Closed Mortgage	Commitment Letter
Compliance Letter	Connection Charges
Conventional Mortgage	Convertible Mortgage
Credit Report	Default
Double-Up	Down Payment
Equity	Five-Percent Down Program
First Mortgage	Genworth Financial Canada
Gross Debt Service Ratio (GDS)	Hedge
High-Ratio Mortgage	Home Inspection Report
Interest Rate Differential	Lien
Loan-to-Value Ratio	Mortgage Broker
Mortgagee	Mortgage Insurance
Multiple Listing Service (MLS)	Municipal Levies
Open Mortgage	Pith
Portable Mortgage	Prepayment Privilege(s)
Prepayment Penalty	Princiapal
Refinance	Registration Fees
Simple Interest	Survey
Switch	Tax Certificate
Title Insurance	Total Debt Service Ratio (TDS)
Undertaking	Underwriting
Variable Rate Mortgage (VRM)	Verification of Employment
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