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Phrases with «ratio mortgages»

"Ratio mortgages" refers to mortgage loans that are granted to borrowers based on their income and debt ratio. It means that lenders assess a person's ability to repay the loan by considering their income in relation to their debt. This ratio helps determine the amount of money a person can borrow for a mortgage. Full definition

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Sentences with «ratio mortgages»

  • If the down payment you are making is less than 20 % of the purchase price of the particular property, high ratio mortgage insurance fee will be added to the total mortgage amount. (syndicatemortgages.com)
  • He pointed to a situation where taking money from an RRSP might allow people to make a 20 per cent down payment and avoid the need for high - ratio mortgage insurance. (moneysense.ca)
  • If you are in the market for a low ratio mortgage meaning if your loan to value is less than 80 % then you are unlikely to get those discounted rates. (canadianmortgageadvisor.ca)
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