Glossaria.net

Glossary Residential Construction / Term

Mortgage loan

A contract in which the borrower's property is pledged as collateral. It is repaid in installments. The mortgagor (buyer) promises to repay principal and interest, keep the home insured, pay all taxes and keep the property in good condition.

Permanent link Mortgage loan - Creation date 2021-03-05


< Mortgage deed Glossary / Residential Construction Mortgage Origination Fee >