Home Mortgage

Home Mortgage

A loan used to buy real estate where one resides. A home mortgage is secured by the property it is used to purchase. One must make monthly payments on a home mortgage, and there is a set term before full payment is due, often 15, 20 or 30 years. Some mortgages have fixed interest rates, while others have variable interest rates. If one defaults on a home mortgage, the bank making it may take possession of the real estate and sell it to recover its investment. Some banks, notably savings and loans, specialize in making mortgage loans. In the United States, home mortgages have more favorable tax implications than mortgages on other properties. See also: Mortgage-backed security.
References in periodicals archive ?
New to the Eagle River Wells Fargo Home Mortgage team are home mortgage consultant Angie Kaltschnee, mortgage sales associate Andrea Fullbright, subprime home mortgage consultant Kristi Schafer and junior home mortgage consultant Aimee Miller.
Home Mortgage will also change its logo, adopting the ABN AMRO shield.
The change is small, but including the word "home" in the name is representative of how much Union Home Mortgage is committed to helping people achieve the dream of home ownership.
HMDA and the Board's Regulation C require most depository institutions and certain for-profit, nondepository institutions to collect, report, and disclose data about applications for, and originations and purchases of, home mortgage loans, home improvement loans, and refinancings.
McBride offers one caution: "You might replace such loans with a home equity loan or larger home mortgage, but if you refinance a mortgage to pay off other types of loans, keep the home mortgage to no more than 80% of the home's value.
For home mortgage brokers, low interest rates and consistent demand for residential product have created an extremely competitive and lucrative business environment.
Consequently, the reductions in high-income itemizers' federal tax liability were less for deductible home mortgage interest dollars spent in 1993 (at a maximum tax rate of 39.
June 30 /PRNewswire/ -- Prudential Home Mortgage, one of the nation's largest residential mortgage originators, announced today that it has obtained a $1.
TORONTO -- Reliant Home Warranty Corporation (OTCBB:RHWC) President & CEO Boyd Soussana announced today that Reliant, through its Canadian subsidiary Reliant Home Mortgage Canada Inc.
Largest Home Mortgage Lender in Second Quarter 1993 SANTA ANA, Calif.
TORONTO -- Reliant Home Warranty Corporation (OTCBB:RHWC) today announced that the first full week of operations for the company's Canadian subsidiary, Reliant Home Mortgage Canada Inc.
CONTACT: Brad Morrice, executive VP and general counsel of Plaza Home Mortgage, 714-564-8036; or John H.