A mortgage is a loan that you can use to buy a home or some other kind of real estate property. This loan also allows your lender to seize the property you bought with your mortgage in case you fail to pay the loan on time. Simply put, the piece of real estate you purchased serves as the collateral on your loan.
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Prices for new detached homes in Ottawa have edged up only slightly over the last few years, with the average new build commanding $525,000. New home prices could move slightly higher in 2017 as fewer developments come on stream and buyers rush to get into the market before rates go up.
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Loans in Ottawa, Ontario Trying to find the right lender in Ottawa can be a pretty overwhelming process, there are thousands of institutions around the city that promise fast loans and easy approval. As such a big center of commerce, there are thousands of options to look into.