Mortgage

Definition of "Mortgage"

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.

Search Real Estate Glossary

Related Real Estate Glossary terms

Rent With Option To Buy

Renter agrees to lease property for a designated term with the right to purchase it at a set price ...

Fence

Connected group of wires, woods, or other materials surrounding real property to either protect it o ...

I-bonds

Bonds issued by the United States Treasury that earn a fixed interest rate plus the rate of inflatio ...

Risk-based Capital Statistic (rbcs)

Ratio of authorized control level risk-based capital of an insurance company to its total adjusted c ...

Prerelease

Securing lease commitments to a building prior to its being available for occupancy. For example, a ...

Examined Business

Life or health insurance policy written on an applicant who has passed a medical examination and sig ...

Related Real Estate FAQ

What Will My ARM Loan Payment Be ?

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a ...

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

What Is A Mortgage Banker?

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

What Is A Cap?

A limit on an adjustable-rate mortgage. ...

What Do I Need To Know About Homeowners Insurance?

It is where you live and where your possessions are. Chances are, it\'s your asset. But more than po ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

When to buy a house What is Earnest Money Why Right Now is a Good Time for Millennials to Buy a Home 3 tips to ensure your sale goes through How To Get A Loan with Bad Credit

FAQ

What is an assumable mortgage? What is a treasury index? What is a second mortgage? What is an amortization? How Much Will My Principal Be?