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1. www.bankrate.com › mortgages › what-is-mortgageWhat Is A Mortgage? Your Definitive Home Loans Guide | Bankrate

   www.bankrate.com › mortgages › what-is-mortgage

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   May 7, 2024 · A mortgage is a long-term loan from a financial institution that helps you purchase a home, with the home itself serving as collateral. Mortgage payments typically consist of principal (the...

2. www.rocketmortgage.com › learn › what-is-a-mortgageWhat Is A Mortgage And How Do I Get One? | Rocket Mortgage

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   Apr 25, 2024 · A mortgage is a loan from a lender that gives borrowers the money they need to buy or refinance a home. The borrower agrees to pay back the lender with monthly mortgage payments that include principal, interest and other fees. Mortgages are secured loans, and secured loans are backed by collateral.

   • Author: Miranda Crace

   • What Is A Mortgage?

     A simple definition of a mortgage is a type of loan you can use to buy or refinance a home. Mortgages are also referred to as “mortgage loans.” Mor...
   • Who Gets A Mortgage?

     Most people who buy a home do so with a mortgage. A mortgage is a necessity if you can’t pay the full cost of a home out of pocket.
   • What’s The Difference Between A Loan And A Mortgage?

     Mortgages are “secured” loans. With a secured loan, the borrower promises collateral to the lender in the event that they stop making payments. In...
   • How Does A Mortgage Loan Work?

     When you get a mortgage, your lender gives you a set amount of money to buy the home. You agree to pay back your loan – with interest – over a peri...

3. www.forbes.com › advisor › mortgagesWhat Is A Mortgage? – Forbes Advisor

   www.forbes.com › advisor › mortgages

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   Aug 18, 2022 · A mortgage is a lot like other loans: a lender gives a borrower a certain amount of money for a set amount of time, and it’s repaid with interest. However, mortgages are also a little bit...

4. www.quickenloans.com › learn › what-is-a-mortgageWhat Is A Mortgage And How Does It Work? | Quicken Loans

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   A mortgage is a loan from a bank, credit union, lender or other financial institution used to buy or refinance a home. Mortgages are an agreement between a borrower and a lender whereby the home buyer agrees to repay the borrowed money, plus interest, over a clearly defined period of time.

   • What is a mortgage amortization schedule?

     A mortgage amortization schedule is a table showing how each monthly payment is applied to your loan’s principal and interest. As you make more mor...
   • What does “conforming” mean for a home loan?

     A conforming loan is a mortgage that meets the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Conforming loans can be pur...
   • What is a second mortgage?

     A second mortgage is a loan you must pay back in addition to the original mortgage you took out to purchase the home. A second mortgage functions l...
   • What is a reverse mortgage?

     A reverse mortgage is a loan that converts the home’s equity into a lump-sum payment or monthly payments that go to the homeowner. Reverse mortgage...

5. www.moneygeek.com › mortgage › what-is-a-mortgageWhat Is a Mortgage? A Guide for Beginners - MoneyGeek

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   Oct 1, 2023 · A mortgage is a loan that allows you home ownership provided you follow the terms of the agreement made between you and the lender. Defaulting on a mortgage means you can lose your property.

6. thestatebank.com › mortgage-glossaryMortgage Glossary | The State Bank

   thestatebank.com › mortgage-glossary

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   A conventional mortgage (also known as a non-FHA loan) is a type of home loan that is not insured or guaranteed by the federal government. Instead, it’s backed by a private lender, like The State Bank. Conventional loans are the most common type of home loan, making up nearly three quarters of home loans.

7. www.zillow.com › lender-directory › ncLenoir, NC Mortgage Lenders & Reviews | Zillow

   www.zillow.com › lender-directory › nc

   Take the next step towards your new home. Find a Lenoir, NC lender on Zillow who can help you get pre-qualified. Lenoir, NC mortgage rates. Check Lenoir, NC mortgage rates and refinance rates on Zillow to see the impact they'll have on your payments.