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Continuing Education → Professional Development

Understanding Mortgages (LCI5104)

This course introduces the wonderful world of mortgages. From the purpose and legal structure of a mortgage to the mortgage industry, we'll dive into the finer details of making home ownership a reality for your clients!

1.0 CE Credits

Accreditation Code: IAS17133700

CE Credits: 1.0 Accreditation Number: IAS17133700 CE Credit Type: Professional Development

  • Course Introduction
  • Understanding Property rights
  • The Mortgage
  • Rights and Constraints of Real Property
  • Common Law Ownership Structures
  • Quebec Property Rights
  • Quebec Hypothec
  • Real Rights and Rights of Ownership
  • Land Holding Rights
  • Title Registration System
  • Why Land Titles are Registered
  • Property Registration Systems
  • The Mortgage Market
  • The Primary and Secondary Mortgage Market
  • Mortgage Market Participants
  • Mortgage Loan Insurers
  • Legal aspects of mortgages
  • Covenants of a Mortgage Contract
  • Mortgage Fees and Penalties
  • Legal Recourse of a Mortgage Contract
  • mortgage types and features
  • Conventional and High Ratio Mortgages
  • Minimum Down Payment Rules
  • Mortgage Amortization and Term
  • Fixed Rate and Variable Rate Mortgages
  • Closed and Open Mortgages
  • Portable and Assumable Mortgages
  • Other Mortgage Features
  • Interest, Payments and Prepayments
  • Mortgage Payments
  • How Mortgage Interest is Calculated
  • Calculating Mortgage Payments
  • Accelerated Payments and Prepayments
  • Calculating Prepayment Penalties
  • Home Affordability
  • Initial Expenses of Purchasing a Home
  • Calculating the Land Transfer Tax
  • Using the RRSP Home Buyer's Plan
  • Final Test
  • Understanding Mortgages Final Test
Completion rules
  • You must complete the test "Understanding Mortgages Final Test"
  • Leads to a certification with a duration: Forever