If you're a first-time homebuyer, many aspects of the purchase process can be confusing and stressful, including financing. While the mechanics of a mortgage are relatively simple, choosing the right mortgage product can be far from it, as many of the choices available to buyers are obscured by complex and unfamiliar terminology.

To help you cut through the jargon, here's an alphabetical list of common mortgage terms and their definitions:

A survey by Manulife Financial found almost one in five homeowners expect they'll be accessing home equity to supplement their retirement income.

The Manulife Bank Debt survey, which questioned more than 2,300 Canadians, finding nearly one in five respondents see their home as part of their retirement income equation.