Definition of "Mortgage"

Aaron Gray Sr. real estate agent

Written by

Aaron Gray Sr.elite badge icon

Century 21 Advantage Gold

A lien that makes property security for the repayment of debt. Mortgages can finance the acquisition of real estate such as a home. A mortgage has certain benefits compared to other debt instruments such as possibly lower interest rates, less financing restrictions, and long maturity period.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The annuity factor definition is the use of a financial method that shows the value, present or future, of an amount when it is multiplied by a periodic amount. The calculation of an ...

Rules regarding day-to-day use of the premises. ...

Agreement in which some terms are yet to be carried out. The contract is still not fully completed. ...

The process of entering a conveyance or mortgage instruments affecting the title to real property in a public registry. Recording instruments provide public notice to the whole world of ...

A clause that may be inserted in a listing agreement stating no commission will be paid to the broker until the property title has actually been transferred. Normally, willing and able ...

Form used to record information about a credit applicant's ability to meet his obligations in connection with a real estate purchase. ...

Thin layer or slate of baked clay, linoleum, or some other material that is used for covering floors, roofs, or as an ornament in a building. ...

(1) Temporary and symbolic payment showing good faith and obligating two or more individuals until a final transaction takes place. The binder is typically returned if the final agreement ...

See concrete block. ...

Popular Real Estate Questions