Strata Property
A form of ownership in which the homeowner purchases and owns a unit of housing and shares financial responsibility for common areas.
Detached/Freehold
A property where you own both the property and the land on which it is built.
Condo
An attached home that is a strata property usually with a shared common entrance.
Townhouse
An attached home that is a strata property usually with its own entrance.
Leasehold
An attached or detached home built on land which is leased from the city or another owner.
What is a Mortgage
Terms and Rates
Mortgage Types
Closing Terms and Costs
Paying Off Your Mortgage Sooner
Types of Homes
Finalizing Your Mortgage
(source: Canadian Association of Accredited Mortgage Professionals) |