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  2. Mortgage note: What is it and how does it work? - AOL

    www.aol.com/finance/mortgage-note-does-211132255...

    A mortgage note is one of many closing documents a borrower signs when closing on a home loan. In simplest terms, it represents the mortgage for a given borrower. In technical terms, a mortgage ...

  3. Mortgage note - Wikipedia

    en.wikipedia.org/wiki/Mortgage_note

    In the United States, a mortgage note (also known as a real estate lien note, borrower's note) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise.

  4. Loan - Wikipedia

    en.wikipedia.org/wiki/Loan

    A mortgage loan is a very common type of loan, used by many individuals to purchase residential or commercial property. The lender, usually a financial institution, is given security – a lien on the title to the property – until the mortgage is paid off in full.

  5. Mortgage law - Wikipedia

    en.wikipedia.org/wiki/Mortgage_law

    A mortgage lender is an investor that lends money secured by a mortgage on real estate. In today's world, most lenders sell the loans they write on the secondary mortgage market. When they sell the mortgage, they earn revenue called Service Release Premium. Typically, the purpose of the loan is for the borrower to purchase that same real estate.

  6. What is a mortgage? A definitive guide for aspiring homeowners

    www.aol.com/finance/mortgage-definitive-guide...

    Mortgage insurance – Your monthly payment might also include a fee for private mortgage insurance (PMI). For a conventional loan, this type of insurance is required when a buyer makes a down ...

  7. Graduated payment mortgage loan - Wikipedia

    en.wikipedia.org/wiki/Graduated_payment_mortgage...

    A graduated payment mortgage loan, often referred to as GPM, is a mortgage with low initial monthly payments which gradually increase over a specified time frame. These plans are mostly geared towards young people who cannot afford large payments now, but can realistically expect to raise their incomes in the future.

  8. What is a fixed-rate mortgage and how does it work? - AOL

    www.aol.com/finance/fixed-rate-mortgage-does...

    Originating in the 1930s, the 30-year fixed-rate mortgage remains America’s go-to loan for home purchases. In fact, about nine in 10 homebuyers opt for a 30-year fixed-rate mortgage, according ...

  9. Interest-only loan - Wikipedia

    en.wikipedia.org/wiki/Interest-only_loan

    In the United States, a five- or ten-year interest-only period is typical.After this time, the principal balance is amortized for the remaining term. In other words, if a borrower had a thirty-year mortgage loan and the first ten years were interest only, at the end of the first ten years, the principal balance would be amortized for the remaining period of twenty years.