Home Price

The amount of money in which the home can be bought or sold as seen on a property listing site. 

Down Payment

The amount of cash that the buyer can initially invest in the property. The down payment is the difference between the purchase price and th...

Land Transfer Tax

The Land transfer tax is payable on the closing date of your purchase and is usually based on the purchase price of the property. The a...

Mortgage Rate

Mortgage rate is the interest that a mortgage borrower will pay for money borrowed against a mortgage.

Mortgage Term

The length of time the interest rate is fixed. The end of the term is also the time when the borrower must either pay the outstanding mortga...

Mortgage Insurance

This is insurance that is required when homebuyers make a down payment of less than 20% of the purchase price. This protects the lender in t...

Fixed Rate Mortgage

A mortgage for which the interest rate has been fixed for a certain period of time (generally the length of a mortgage term).

Variable Rate Mortgage

A mortgage that has fixed payments, but whose principal portion of the payment fluctuates with interest rate changes. Variable rate mortgage...

Rental Income

This refers to the amount of money collected by the owner of the home from tenants that are renting a particular space such as a room or the...