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What is a mortgage?

A mortgage is a loan that uses a property as security to ensure that the debt is repaid. The borrower is referred to as the mortgagor, the lender as the mortgagee. The actual loan amount is referred t

Mortgage Glossary

Additional interest: The amount sometimes charged by the bank when you prepay principal or renegotiate the terms of your mortgage. The amount compensates the bank for loss of revenue. Amortization: W

Types of Mortgages

While a mortgage is fundamentally a loan that is secured against your home, there are many variations to the type of mortgage that can be used for various needs. Based on your goals and risk character

Choosing a Mortgage Term

Before you look at the issue of term specifically, there are things you should consider: When you’re looking at term and interest rates, look also at what you can live with in terms of payment amount

mortgage application steps

The loan and mortgage process is a stressful and sometimes frustrating process. The idea is to make the entire process go as smoothly as possible. What is most important? Be prepared before you sit do

Mortgage application tips

·         If the payments are about the same, you will be further ahead financially by making payments on a mortgaged home rather than paying rent on a h