Mortgage Loan Definition Of Mortgage Loan By The Free

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Posted on August 23, 2018 at 21:17 PM

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Mortgage financial definition of mortgage
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 | Definition of Mortgage by Merriam-Webster
In a normal mortgage scenario (the left side of the graphic), the borrower would make a series of equal payments that are composed of principal repayment and interest payment so that by the end of the loan term, the borrower has paid down all of the loan.
Mortgage - Investopedia
With a fixed-rate mortgage, the borrower pays the same interest rate for the life of the loan. Her monthly principal and interest payment never change from the first mortgage payment to the last.

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