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Terms to Know When Buying or Selling a Home
Terms to Know When Buying or Selling a Home
Napkins - Napkin Finance
Napkins - Napkin Finance
Chattel mortgage - definition and meaning - Market Business News
Chattel mortgage - definition and meaning - Market Business News
Home Loan - Home Loans Online @ Lowest Interest Rates, Apply Now
Home Loan - Home Loans Online Lowest Interest Rates Apply Now
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definition of home loan : Home loan definition is - a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years. a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years… See the full definitionHome Loan: A sum of money borrowed from a financial institution or bank to purchase a house. Home loans consist of an adjustable or fixed interest rate and payment terms.Define home loan. home loan synonyms, home loan pronunciation, home loan translation, English dictionary definition of home loan. n an informal name for mortgage1 Noun 1. home loan - a loan secured by equity value in the borrower's home equity credit line, home equity credit, home...Upon making a mortgage loan for the purchase of a property, lenders usually require that the borrower make a down payment; that is, contribute a portion of the cost of the property. This down payment may be expressed as a portion of the value of the property (see below for a definition of this term).home loan: Loan acquired from a financial institution to purchase a home. Home loans consist of an adjustable or fixed interest rate and payment terms. Home loans may also be referred to as mortgage loans.Home Mortgage: A loan given by a bank, mortgage company or other financial institution for the purchase of a primary or investment residence. In a home mortgage, the owner of the property (the ...mortgage definition: 1. an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself: 2. to borrow money to buy a house: 3. an agreement that allows you to borrow money from a bank or similar organization by…. Learn more.Mortgage: A mortgage is a debt instrument , secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages ...A legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a debt, evidenced by a mortgage note. When the debt is repaid, the mortgage is discharged, and a satisfaction of mortgage is recorded with the register or recorder of deeds in the county where the mortgage was ...Home loans, also known as mortgages, use the borrower's home for collateral. This home can be a single-family house up to a four-unit property, as well as a condominium or cooperative unit.
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