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slightly higher rate for the convenience and speed. Reduced paperwork. Most so-called “low-doc” or “no-doc” loans charge you a higher interest rate in exchange for requiring less documentation. Some lenders, however, have fast-track programs that eliminate best mortgage rate canada steps -- such as income and asset verification -- for customers with excellent credit. This speeds up the process without resulting in a higher interest rate. 4. Use the Internet Most people use the Internet to shop for rates but pick up the phone once they’re ready to best mortgage rate canada Starting your application on the Web, however, can help you bypass the traffic jams at the call center. Operation of the mortgage The borrower (also called the mortgagor) uses a mortgage to pledge real property to the lender (also called the mortgagee) best mortgage rate canada security against the debt (also called hypothecation) for the rest of the value of the property. In legal terms, the best mortgage rate canada of a mortgage gives the legal title of the land to the mortgagee and an equitable title (called "equity of redemption") to the mortgagor. The legal title, however, only exists as a security for a debt and does not convey any title or powers associated with best mortgage rate canada property. The mortgage instrument contains two parts: the mortgage, which is the pledge the promissory note (or simply note) which is the actual evidence of the debt and promise to repay To protect the lender, a mortgage is recorded in the public records creating a lien (when there
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best mortgage rate canada

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