Home Mortgage

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Dictionary Says

Definition of 'Home Mortgage'

A loan given by a bank, mortgage company or other financial institution for the purchase of a primary or investment residence. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the payment has been made and other terms of the mortgage have been met.

A home mortgage will have either a fixed or floating interest rate, which is paid monthly along with a contribution to the principal loan amount. As the homeowner pays down the principal over time, the interest is calculated on a smaller base so that future mortgage payments apply more towards principal reduction as opposed to just paying the interest charges.

Investopedia Says

Investopedia explains 'Home Mortgage'

Home mortgages allow a much broader group of citizens the chance to own real estate, as the entire sum of the house doesn’t have to be provided up front. But because the lender actually holds the title for as long as the mortgage is in effect, they have the right to foreclose the home (sell it on the open market) if the borrower can’t make the payments.

A home mortgage is one of the most common forms of debt, and it is also one of the most advised. Mortgage loans come with lower interest rates than almost any other kind of debt an individual consumer can find.

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Search results for

'Home Mortgage'

  • Tax Deductions On Mortgage Interest

    http://www.investopedia.com/articles/pf/06/MortIntTaxDeduct.asp
    ... Surviving The IRS Audit.) The Bottom Line The home mortgage interest tax deduction
    is cherished by homeowners and despised by proponents of income tax reform. ...

  • Mortgage Options For Underwater Homeowners

    http://www.investopedia.com/articles/mortgage-real-estate/09/selling-home-less-than-loan.asp
    ... The ideal scenario is to continue living in the home and paying the mortgage until
    the real estate market improves and the house can be sold for a price that ...

  • Home-Equity Loans: What You Need To Know

    http://www.investopedia.com/articles/pf/05/041305.asp
    ... If the borrower defaults, the lender gets to keep all the money earned on the initial
    mortgage and all the money earned on the home-equity loan; plus the ...

  • Short Sell Your Home To Avoid Foreclosure

    http://www.investopedia.com/articles/mortgages-real-estate/08/short-sell-home-avoid-foreclosure.asp
    ... your feet. Another possible option for staying in your home arises if you
    have private mortgage insurance (PMI). Many homeowners ...

  • Top 6 Mortgage Mistakes

    http://www.investopedia.com/articles/mortgages-real-estate/10/top-mortgage-mistakes.asp
    ... interest. The family will have to try to work out an agreement with the
    bank and make mortgage payments to keep the family home. 5 ...

  • The Benefits Of Mortgage Repayment

    http://www.investopedia.com/articles/pf/05/payoffmortgage.asp
    ... Similarly, home buyers often plan their finances based on the idea that their mortgage
    payments won't change; they discover this isn't always true, when their ...

  • Mortgage Basics: Introduction | Investopedia

    http://www.investopedia.com/university/mortgage/
    ... While buying home can give you a great place to live and a way to build wealth,
    all of these ... For most people, the bulk of that cost is wrapped up in a mortgage ...

  • If my mortgage lender goes bankrupt, do I still have to pay my ...

    http://www.investopedia.com/ask/answers/07/mortgage-lender-bankrupt.asp
    ... Together, the Federal National Mortgage Association (Fannie Mae, or FNMA) and the
    Federal Home Loan Mortgage Corp (Freddie Mac, or FHLMC) purchase or guarantee ...

  • Make A Risk-Based Mortgage Decision

    http://www.investopedia.com/articles/pf/07/mortgage_decision.asp
    ... These calculations can be made for mortgage payments and home equity. ... (Home equity
    equals the home's value minus the mortgage's principal balance). ...

  • Things To Know About The Home Modification Plan

    http://www.investopedia.com/articles/mortgages-real-estate/09/home-affordable-modification-program.asp
    ... get the bank to modify your loan as well.(For related reading, check out Saving
    Your Home From Foreclosure and Should You Refinance Your Mortgage When Interest ...

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