1. MORTGAGE & RETIREMENT BINGO
MAP 4C

2. Put the following terms on your BINGO card in any order: Mortgage Loan Mortgagee Security Down Payment 5-10% Term Amortization 20 year 40 year Interest Monthly Fixed Mortgage Variable Mortgage P i M CPP Old Age Security Defined Benefit TFSA Defined Contribution Reverse Mortgage RRSP

3. A mortgage is a type of:
loan

4. A mortgage where the interest rate does not change:
fixed mortgage

5. The length of the mortgage
amortization

6. The usual down payment amount:
5-10%

7. The amount of the mortgage:P

8. A long amortization period:
40 years

9. A type of pension plan that never runs out:
defined benefit

10. The amount you must pay immediately when you buy a home:
down payment

11. The interest ÷by 100 ÷by the number of compounding periods per year:

12. Based on how long you have lived in Canada:
Old Age Security

13. Registered Retirement Savings Plan:
RRSP

14. The bank earns money on a mortgage by charging you:
interest

15. A pension that is tied to an account in your name:
defined contribution

16. When mortgage payments are usually made:
monthly

17. Tax Free Savings Account:
TFSA

18. Usually a length of 5 years:
term

19. A short amortization period:
20 years

20. When the interest rate changes over the amortization period:
variable mortgage

21. The property you will give up if you forfeit on a loan:
security

22. A loan to buy property:
mortgage

23. The monthly payment: M

24. The person who has the mortgage:
mortgagee

25. For homeowners 55 and older; a type of retirement plan:
reverse mortgage

26. Canada Pension Plan:
CPP