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- the activity of lending money to buyers of houses and other property: Mortgage lending by major banks grew at its slowest rate for more than two years. (Definition of mortgage lending from the Cambridge Business English Dictionary © Cambridge University Press)
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dictionary.cambridge.org · mortgage-lendingMORTGAGE LENDING | English meaning - Cambridge Dictionary
MORTGAGE LENDING definition: the activity of lending money to buyers of houses and other property: . Learn more.
- English (US)
MORTGAGE LENDING meaning: the activity of lending money to...
- Znaczenie Mortgage Lending, Definicja W Cambridge English Dictionary
mortgage lending definicja: the activity of lending money to...
- Mortgage
an agreement that allows you to borrow money from a bank or...
- English (US)
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What does mortgage mean?
What is the difference between a mortgage and a home loan?
What are mortgage terms?
What is a mortgage loan origination?
an agreement that allows you to borrow money from a bank or similar organization by offering something of value, esp. in order to buy a house or apartment, or the amount of money itself: They took out a $90,000 mortgage to buy the house.
- Cash to Close
- Cash-Out Refinance
- Closing
- Closing Costs
- Closing Disclosure
- Co-Borrower
- Collateral
- Construction Loan
- Contingency
- Conventional Loan
The term cash to closeindicates how much money you’ll need to bring to the closing table. This includes closing costs and your down payment. You should know how much cash to close or funds to close you’ll need before closing day. With that information, you can come prepared with the appropriate amount.
A cash-out refinanceoffers a way to tap into your home equity. It works by taking out a bigger mortgage than your existing loan. You’ll use the funds to pay off your current mortgage and pocket the difference in cash. At the end of this transaction, you’ll still have a single mortgage payment to keep up with.
Closingon a mortgage is the last step in the home buying process. At this point, you’ll sign all of the paperwork and hand over the funds to finalize your home purchase.
Closing costsare the funds you pay to your lender in exchange for finalizing your loan. Closing costs often amount to 3% – 6% of the total value of your loan. Common closing costs include appraisal fees, loan origination fees and credit checks. But the exact costs you face will vary based on your unique situation.
A Closing Disclosureis a document that includes all of the final details about your loan. It will include your interest rate, loan principal and the closing costs you must pay. Your lender is legally required to give you at least 3 days to review your Closing Disclosure before you sign on your loan. If you spot an error or have a question, use this...
A co-borroweris someone who applies for a loan with you. If approved, both borrowers are legally responsible for repaying the loan. In most cases, co-borrowers share the title to the house.
Collateralis an asset used to secure a loan. With home loans, the home acts as collateral for the mortgage. If the borrower doesn’t keep up with the payments, the lender has the right to seize the collateral (house).
A construction loanis a short-term loan designed to cover the upfront cost of building a new house. After the home is built, the homeowner can apply for a traditional mortgage to pay off the construction loan.
A contingencyclause in a home purchase offer indicates that a certain condition must be met before the sale is finalized. If the condition isn’t met, the buyer and seller will no longer have an enforceable purchase agreement. One example is the common inspection contingency, which states the buyer has the right to back out of the deal if they don’t...
A conventional loanis a type of loan that isn’t backed by a government program. Most conventional loans are also “conforming,” which means they meet the requirements set by Fannie Mae and Freddie Mac. In general, conventional loans have stricter borrower requirements than government-backed loans.
Searches related to mortgage lending meaning dictionary translation
The meaning of MORTGAGE is a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.
Jul 19, 2024 · A mortgage is a loan used to purchase or maintain a home, plot of land, or other real estate. The borrower agrees to pay the lender over time, typically in a series of regular payments divided...
- Julia Kagan
- 2 min
May 16, 2023 · A home mortgage is a loan given by a bank, mortgage company, or other financial institution for the purchase of a residence. A home mortgage will have either a fixed or floating interest...
mortgage lending translation in English - English Reverso dictionary, see also 'mortal, mortar, morale, morgue', examples, definition, conjugation
