15-year Mortgage
Definition of "15-year mortgage"
Mortgage loan where for a slight increase in the monthly payment, the loan can be paid off in only 15 years, The overall savings in interest paid to the lender over the life of the 15-year mortgage can be quite substantial, yet the monthly payment is not significantly higher.
Popular Real Estate Terms
Same as term government rectangular survey: Way in which the U.S. government uses to subdivide public land. Land is designated as either a base line (East-West) or principal meridian line ...
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Lien prior to another lien taking precedence over it. A senior lien may not necessarily be a first lien. ...
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Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
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