CANADIAN MORTGAGE GLOSSARY TERMS Here is a simple glossary of Canadian mortgage lending and finance related terms. To find the term you are looking for quickly, simply click on the letter below.
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
Z
Zero Balance
When the outstanding balance on a credit card is paid and no new charges are incurred during the billing cycle, the card holder's monthly statement shows a zero balance. This means nothing is left owing to the credit card company.
Zero Down Mortgage
This type of mortgage is a true 100% mortgage financing product that is available in Canada. See also "No Money Down Mortgage."
Zero Lot Line
The positioning of a structure on a lot so that one side rests directly on the lot's boundary line.
Zoning
The uses to which property may be put in specific areas, as specified by municipal authorities.