Mortgage | Definition of Mortgage at Dictionary.com – [mawr-gij] See more synonyms for mortgage on Thesaurus.com. noun. a conveyance of an interest in property as security for the repayment of money borrowed. the deed by which such a transaction is effected. the rights conferred by it, or the state of the property conveyed.
Mortgage Terms and Definitions | Sherburne State Bank – Balloon Mortgage A loan which is amortized for a longer period than the term of the loan. Usually this refers to a thirty year amortization and a five or seven year term. At the end of the term of the loan the remaining outstanding principal on the loan is due. This final payment is known as a balloon payment.
Commercial and industrial loans can be made in order to provide either working capital or to finance capital expenditures such as machinery or a piece of equipment. This type of loan is usually.
Loan | Define Loan at Dictionary.com – [lohn] See more synonyms for loan on Thesaurus.com. noun. the act of lending; a grant of the temporary use of something: the loan of a book. something lent or furnished on condition of being returned, especially a sum of money lent at interest: a $1000 loan at 10 percent interest. loanword.
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Mortgage financial definition of mortgage – 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.
Mortgage Glossary – Mortgage Terms & Definitions Use Bank of America’s comprehensive mortgage terms glossary to get definitions of mortgage terms that may come up throughout the loan process. mortgage glossary, mortgage dictionary, mortgage terms
mortgage – definition and meaning – – Themeans residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before September 17, 2008. Latest Articles. The primacy of a mortgage is an ancient aspect of our law.
Under the mandates of the Housing and Economic recovery act (hera) of 2008, the conforming loan limit is adjusted every year to reflect changes in the average price of a home in the U.S. The annual.