A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

	Carrying Costs The actual cost of living in and maintaining property, including mortgage payments, property tax, heating, repairs, and so on. Closed mortgage The restriction or denial of repayment rights until the maturity of the mortgage.
	Closing Date The date on which the sale of a property becomes final and the new owner takes possession.
	CMHC Canada Mortgage and Housing Corporation, a Crown Corporation which administers the National Housing Act.
	Co-operative The ownership of a separate amount of space in a multiple dwelling or other multiple-occupancy building with proportioned tenancy in common ownership of common elements. Used jointly with other owners however, the owner does not own his/her specific unit but he/she becomes a shareholder of the corporation which owns all the real property and occupies by way of a tenancy agreement subject to a shareholders agreement administered by an elected board of directors.
	Co-ownership Co-ownership occurs when the ownership of the whole property is divided (not necessarily on a pro-rated basis) between two or more persons. Usually there is a written agreement between the co-owners in which the rights of each co-owner is described. Each co-owner may sell his/her right of ownership or dispose of it as he/she wishes.
	Collateral Mortgage A loan backed by a promissory note and the security of a mortgage on a property. The money borrowed may be used for another purpose, such as home renovations or a vacation.
	Commitment A notice from a mortgage lender to a prospective borrower that the lender will advance mortgage funds in a specified amount under certain conditions.
	Commitment Fee This fee is charged by a lender for keeping an agreed amount of funds available to the borrower for a specified period of time.
	Compound Interest Interest charged not only to the principal sum but also on interest amounts charged in a preceding period.
	Condominium The ownership of a separate amount of space in a multiple dwelling or other multiple-occupancy building with proportioned tenancy in common ownership of common elements used jointly with other owners.
	Contract An agreement between two or more parties given receipt of lawful consideration to do or refrain from doing some act.
	Conventional Mortgage A first mortgage, outside the conditions of NHA (the National Housing Act), granted by an institutional lender such as a bank, mortgage, loan or trust company wherein the amount of the loan does not exceed 75% of the appraised lending value of the property.
	Convertible Mortgage A short term mortgage, usually 6 (six) or 12 (twelve) months, allowing the borrower to switch into a longer term at any time without penalty. There are several different variations to the convertible mortgage.