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Mortgage

A loan used to buy real estate. A mortgage is secured by the property it is used to purchase. One must make monthly payments on a 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 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. See also: Mortgage-backed security.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

home loan

See mortgage.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The lending rate of SBI's repo-linked home loan is based on the bank's repo rate lending rate (RLLR), which in turn is linked to RBI's repo rate.
Pune (Maharashtra) [India] June 10 (ANI/ BusinessWire India): A home loan balance transfer allows you to refinance an existing home loan through a new financial institution that offers you a more affordable interest rate.
Home loan releases in January to March breached the P15-billion mark for the first time and grew 22 percent year-on-year, according to the HDMF.
The first service - called 'Instant Home Loan', enables lakhs of pre-approved salaried customers of the Bank to avail final sanction letter digitally & instantly for loans upto Rs 1 crore for a tenure of upto 30 years (based on the age of the customer) using the Bank's internet banking facility.
Zillow Home Loans is currently headquartered in Overland Park, Kansas with over 300 employees.
In total, Pag-IBIG Fund home loans reached P95.02 billion in 2018 to finance homes for 108,012 families.
Cost-effective NFBCs offer competitive pricing in home loans for NRIs in India.
Ty Sukalski joins TCF Home Loans to lead its Home Loans Direct platform of central sales team members who respond to customers' phone and online mortgage inquiries.
Indeed, Eve could get a loan up to $250,000 (for a $750,000 total of home loans) to buy the cabin and still deduct the interest, as long as this loan is secured by the cabin.
The Ministry said that during the early parliamentary elections, the commission in charge wasn't selecting applicants but once the required legal conditions were in place, over the course of July, a total of 69 subsidized home loans of last year's call were approved.
Further, borrowers can also choose to link their home loans with Marginal Cost of funds based Lending rate MCLR- 6 Months or IMCLR- 1 Year.
With the addition of Banc Home Loans, Caliber will have a salesforce of more than 1800 across more than 340 retail locations throughout the United States.