What Is Mortgage

A mortgage is a loan used to purchase a home, where the property serves as the borrower's collateral.

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Mortage financial definition of Mortage – Financial Dictionary – Mortgage. A mortgage, or more precisely a mortgage loan, is a long-term loan used to finance the purchase of real estate. As the borrower, or mortgager, you repay the lender, or mortgagee, the loan principal plus interest, gradually building your equity in the property.

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A mortgage is a loan from a bank or a financial institution that helps the borrower purchase a house. A mortgage is secured by the home itself, so if the borrower.

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Mortgage. A legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a debt, evidenced by a mortgage note.

Mortgage | Define Mortgage at Dictionary.com – A legal agreement that creates an interest in real estate between a borrower and a lender. Commonly used to purchase homes, mortgages specify the terms by which the purchaser borrows from the lender (usually a bank or a savings and loan association), using his or her title to the house as security for the unpaid balance of the loan.

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Mortgage | Definition of Mortgage by Merriam-Webster – What It Is. A junior mortgage is a loan secured by the equity in a house. Equity equals the value of the house less the balance owed on the homeowner’s first (or in some cases, preceding) mortgages. junior mortgages are not the same as home equity lines of credit (HELOCs).

What Is A Mortgage? – Sharper Insight. Smarter Investing. – A mortgage is a loan used to purchase a home, where the property serves as the borrower’s collateral.

What is a mortgage? definition and meaning – "Most homebuyers must apply for a home mortgage with a bank in order to afford the large up front cost of the purchase necessitating repayment over a period of years plus interest.