Definition : Immovable hypothec (conventional) - Variable interest rate

Interest rate that varies according to fluctuations in the prime rate, and this throughout the term of the mortgage loan. When the mortgage rate decreases, a larger portion of the periodic payments is applied to reduce the loan amount. On the other hand, if the interest rate increases, a larger tranche of periodic payments is applied to interest.

How to finance a property in a co-ownership

It is indeed a rare occurrence when a buyer pays its condo, in one single payment. Most of them must obtain a mortgage loan to finance their purchase. What are the criteria and conditions to get a mortgage loan? Whom should you get it from? Banks, credit unions or other sources? What are the policies of the major financial institutions in this market? What are the limitations when planning the financing of your new property?

Definition : Immovable hypothec (conventional) - Variable interest rate

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