What Is A Mortgage

For many people, their mortgage loan is the biggest debt they take on. Because a mortgage loan is such a big loan — and is paid off over such a long period of time — it’s important you qualify for.

There is no single time that is best when it comes to buying a home. Rather, your individual circumstances help determine when the time is right. Most crucially, having your credit in order is the.

“Mortgage” comes from the latin word mort, meaning death – as in “this debt is yours until you die.” Mortgages are more flexible than their root.

Mortgage insurance is an insurance policy designed to protect the mortgagee (lender) from any default by the mortgagor (borrower). It is used commonly in loans with a loan-to-value ratio over 80%, and employed in the event of foreclosure and repossession.

A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a.

2Nd Mortgage Vs Home Equity What is a Second Mortgage? Home Equity Loans | Zillow – A second mortgage – also referred to as a home equity loan or home equity line of credit – is just what it sounds like: another (second) mortgage on your home. Like with your original mortgage, your second mortgage is secured by your home, meaning that if you don’t pay the loan, the bank can take your home.

A mortgage is a loan from a financial institution that lets you purchase a house without paying the entire amount upfront. A mortgage is secured by the home itself, so the bank can sell the home.

Define mortgage. mortgage synonyms, mortgage pronunciation, mortgage translation, English dictionary definition of mortgage. n. 1. A loan for the purchase of real property, secured by a lien on the property. 2. The document specifying the terms and conditions of the repayment of.