Alberta Equity Mortgages - Mortgage Glossary

30.18% First-time buyer
21.62% Qualification
14.86% No money down
11.71% Refinance
6.53% Renewal
4.73% Purchase
3.15% Pre-approval
2.03% Variable Rate
1.35% Low doc
3.84% Other

Mortgage and Real Estate Glossary

Alberta Equity's glossary contains hundreds of terms. With this tool, you can click or search through the largest real estate and mortgage glossary in Canada!

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Qualifying Ratios: As calculated by lenders, the percentage of income that is spent on housing debt and combined household debt. The first qualifying ratio, called the gross debt service or GDS is up to and including a maximum of 32% of the combined gross family income. The second qualifying ratio is the Total debt service or TDS is up to and including 40% of gross income.

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Mortgage and Real Estate Glossary