PRACTICAL GUIDES
Questions and Answers about Mortgage Financing
Financing does not have to feel like a maze of technical terms. At FINOVA, we believe clarity is the first step towards a smart decision. Explore our Practical Guides and FAQ centre to understand the financial language and every step of the process — without fine print and without complications.
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What is MTIC, and why is it more important than the Spread?
Yes. MTIC (Total Amount Payable by the Consumer) is generally more important than spread when comparing mortgage offers. MTIC includes the full cost of the loan: principal, interest, taxes, fees, insurance and other charges. In other words, spread is only one part of the price, while MTIC gives a complete and transparent view of the total cost across lenders.
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