Mortgage Loan

Business / Construction / 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.

Other Words for Loan

Loan Verb Synonyms: advance, allowance, credit, accommodation
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Mobile-Home Loan

Business / Real Estate / Mobile-Home Loan: A mortgage loan on a large mobile-home, usually drawn for a shorter term than conventional mortgages. MORE

Loan-To-Value Ratio

Business / Real Estate / Loan-To-Value Ratio: The relationship between the amount of the mortgage loan and the value of the real estate being pledged as collateral. MORE

Mortgage

Business / Construction / Mortgage: Loan secured by land. MORE

Mortgage Banker

Business / Finance / Mortgage Banker: A company or individual that originates mortgage loans and sells them to investors, while taking care of borrowers' loan payments, records, taxes, and insurance. MORE

Mortgage Servicing

Business / Finance / Mortgage Servicing: The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default, involved with a mortgage loan. MORE

Loan Origination Fee

Business / Real Estate / Loan Origination Fee: The processing of a mortgage application is known as loan origination. When a mortgage loan is originated, a loan origination fee, or transfer fee, is charged by most lenders to cover the expenses inv MORE

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