Canadian Maple Leaf Licensing Info: Alberta Mortgage #MW-0511205,
FSCO (Ontario) #10315,
Saskatchewan Mortgage #315872, and all other provinces.
Division of

The Mortgage Group®


Canadian Financial, Real Estate and Mortgage Glossary

Previous Page
Net PremiumNon-liquid Asset
Currently Displayed — Page 3
Non-owner Occupant — Number of Free Transactions...
non-owner occupantDefinition
A borrower who purchases a property for investment or rental purposes and will not occupy the property.
non-performing (NP) — Acronym
  ➥  As in a note or mortgage loan.
non-performing loan (NPL) — Acronym
A mortgage loan that is in default or where the debtor is delinquent in making payments.
non-recourse debtDefinition
A loan secured by collateral where the borrower is not personally liable.
non-recurring closing costs (NRCC)Definition
One-time fees paid at a real-estate settlement, including origination, appraisal, points, title insurance and credit report.
  ➥  Non-recurring fees at closing are those that are paid once such as a property inspection or property appraisal fees. Recurring fees are those that are paid again and again such as property taxes, condo fees and property insurance.
non-refundable creditDefinition
Tax credits reduce your tax liability dollar-for-dollar. Non-refundable credits can get your tax bill down to zero.
non-scheduled personal propertyDefinition
Assets considered common enough that they are automatically covered by property insurance without the need for an appraisal or receipt.
non-sufficient funds (NSF)Definition
When funds are not enough to satisfy the payment of a cheque or draft made on that account; also known as non-sufficient funds (NSF).
North End Housing Project (NEHP) — Winnipeg, Manitoba, Canada
not in my backyard (NIMBY)Definition
Opposition from residents for proposed buildings or structures in a neighbourhood.
An Organization operated solely for: social welfare, civic improvement, pleasure or recreation, or any other purpose except profit.
A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
note rateDefinition
The percentage paid by a borrower for the use of money, usually expressed as an annual percentage on a promissory note.
Notice of Assessment (NOA)Canada, Important
A form the federal government issues when personal taxes are complete. A notice of assessment shows a breakdown of the given years income along with the balance owing or refund.
  ➥  Canada Revenue Agency's T451 tax form.
notice of default (NOD)Definition, Important
The step in the foreclosure process where the lender informs the court that the borrower is in arrears.
notice of foreclosure sale (NFS) — Acronym, Important
Nova Scotia Association of REALTORS (NASR) — Company Est.1958, Dartmouth, Nova Scotia, Canada
  ➥  Formerly known as Nova Scotia Real Estate Association (NSREA).
Nova Scotia Real Estate Commission (NSREC) — Company Est.1997, Nova Scotia, Canada
  ➥  Founded under the Nova Scotia Real Estate Trading Act.
NSF means Non-sufficient Funds.
nsf chequeDefinition
If a cheque is returned for this reason, it means that there was not enough money in your bank account to cover the amount of the cheque. There is a fee to you if this situation occurs.
number of free transactions per monthDefinition
The number of transactions an account holder is allowed to make before being charged a fee. If the limit is exceeded, a per-item charge is applied. Some accounts offer an unlimited number of free transactions or no free transactions per month.
Previous Page
Net PremiumNon-liquid Asset
Currently Displayed — Page 3
Non-owner Occupant — Number of Free Transactions...

Search the Glossary

Index for The Letter 'n'

Page 1: Named Perils
Net Operating Loss Deduction
Page 2: Net Premium
Non-liquid Asset
Page 3: Non-owner Occupant
Number of Free Transactions...

Notable Terms

The Greatest Mortgage Calculator
Rejoice! For the greatest mortgage calculator is finally here! Experiment with different mortgage rates, terms, amortizations and payment schedules or compare two different mortgages with automatically generated charts and graphs.
Greatest Mortgage Calculator
Mortgage Rates
Competition keeps the banks on their toes. If the banks had it their way, mortgage brokers simply wouldn't exist, and they could keep their rates high. Don't let the banks rest on their laurels; apply today and get a great mortgage rate.
Mortgage Rates
Mortgage Brokers are Extremely Competitive in Today's Market
Keep the banks honest and the lenders competitive by using a broker. Mortgage brokers find the lowest interest rates, which help keep lending companies in check now and in the future. Keep the banks on their toes — contact us today.
Mortgage Brokers Beat The Bank