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B

Balloon Loan	Mortgage in which the remaining balance becomes fully due and payable at a predetermined time.
Balloon Payment	Final payment on a balloon loan.
Bill of Sale	Written document transferring personal property.
Binder	Preliminary agreement of sale, usually accompanied by earnest money (term also used with property insurance).
Blanket Mortgage	A single document which is registered covering more than one title to property.
Blended Mortgage	Combining the amount owing on an existing mortgage with additional mortgage money for the purpose of buying another property. The interest rate change to one that combines the rate on the old loan with the rate in effect at the time you add additional financing.
Blended Payments	The method of repayment where periodic payments of principal and interest are made in such a way that the payments remain constant in amount, although the portions attributed to principal and interest vary with each payment.
Bond	Roughly the same as promissory note, a written promise to repay a loan, often with an accompanying mortgage that pledges real estate as security.
Bridge Financing	A special short-term loan needed to cover (bridge) the gap in time between completing the purchase of one property and finalizing arrangements to pay for it. This is often the result of mismatched closing dates.
Broker	Person licensed by the province to represent another for a fee in real estate transactions.
Building Code	Regulations of local government stipulating requirements and standards for building and construction.
Buydown	The payment of additional points to a mortgage lender in return for a lower interest rate on the loan.
Buyer's Broker	Agent who takes the buyer as client, is obligated to put the buyer's interests above all others, and owes specific fiduciary duties to the buyer.
Buyers' Market	Situation in which the supply of homes for sale exceeds the demand.