This paper reviews the basics of mortgages for real estate transactions. It includes a discussion of common mortgage terms. It also provides an overview of the mortgage process when acting for the lender or when acting for the buyer, including receiving mortgage instructions, preparing documents, and requesting funds. Other considerations for dealing with mortgages, such as conflicts and fraud, are also discussed.

This paper is part of a collection presented at LESA’s Real Estate Essentials program held in Edmonton on March 10, 2017 and in Calgary on March 17, 2017.