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CATEGORY: REAL ESTATE | MORTGAGE 
Canadian Home Financing: What is Home Financing?
The words: home financing are generally among the most researched mortgage and real estate terms online. And you could guess the reasons behind this search activity.
You bet, people could be wanting to buy a home or planning to do so at some point in their life. Or it could be that they are looking for available options in renewing their mortgage, come the renewal time.
They could also be thinking of refinancing.
If you are a new immigrant to Canada, or if you are a first-time buyer, the concept of home financing or mortgage could be overwhelming. Whatever reasons you might have or whatever situation you may be in, the bottom line is - it is imperative that we understand what home financing is about. 
Researching online the answer to the question: "What is home financing?", would readily give you about 433,000,000 results. (As per Google Search Results. See below).
Screenshot: What is Home Financing - Google Search
So, what is home financing?
In answering that question, we would like to use an excerpt from the book, Canadian Home Financing Simplified.
What is Home Financing?
Home financing in Canada comes in the form of a loan that you take out from a bank, lender, or any financial institution to purchase your home. This is also called a mortgage. The property that you buy becomes the collateral.
Source: Canadian Home Financing Simplified Author: Sheila Atienza |
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