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Mortgage. A mortgage loan or simply mortgage (/ ˈmɔːrɡɪdʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.
Tatsama (Sanskrit: तत्सम IPA: [tɐtsɐmɐ], lit. 'same as that') are Sanskrit loanwords in modern Indo-Aryan languages like Assamese, Bengali, Marathi, Nepali, Odia, Hindi, Gujarati, and Sinhala and in Dravidian languages like Tamil, Kannada and Telugu. They generally belong to a higher and more erudite register than common words ...
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money ...
A mortgage is a long-term loan used to buy a house. Mortgages are offered with a variety of loan terms — the length of time to repay the loan — usually between eight and 30 years. Mortgage ...
Mortgage loan origination is the process of your loan being established. When you formally apply for a mortgage , the lender or loan officer “originates,” or initiates the loan (or, to be more ...
A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien. A mortgage in itself is not a debt ...
Steps in the mortgage underwriting process. 1. Preapproval. A mortgage preapproval is a thorough vetting process that indicates how much a lender is likely to loan you, as well as at what i ...
Collateral (finance) In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan. [1][2] The collateral serves as a lender's protection against a borrower's default and so can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the ...