mortgage

Definition
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.




mortgage is ...
... part of the
Lending & Credit and Real Estate subjects.


Related Terms

assumable mortgage -  More
chattel mortgage -
closed-end mortgage -  More
conventional mortgage, first mortgage, general mortgage, government mortgage, growing equity mortgage, high-ratio mortgage, insured mortgage, joint mortgage, junior mortgage, long-term mortgage  and  


mortgage appears in these other terms

Federal Home Loan Mortgage Corporation, Real Estate Mortgage Investment Conduit, assignment of mortgage, Private Mortgage Insurance, Home Equity Conversion Mortgage, mortgage pass-through security, mortgage-backed securities, mortgage rate, purchase-money mortgage, reverse-annuity mortgage and  


mortgage appears in the definitions of these other terms on BusinessDictionary.com

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