Adjustable Rate Mortgage Adjustable rate mortgage is a type of mortgage in which the rate of interest and monthly payment move up and down as market interest rates…
Balloon Mortgage Balloon Mortgage or ‘bullet loan’ or ‘balloon note’ are different terms defining a type of mortgage repaid in installments (including both…
Bi-Weekly Mortgage Bi-weekly mortgage is an option by which a borrower can reduce the total interest paid for their home loan. In this kind of payment plan, the…
Buy to Let Mortgage Buy to Let mortgage is a type of mortgage, which allows a borrower to purchase a property for purpose of renting it out to the tenants. Facts…
Buydown mortgage augments property purchasing power Buydown mortgage enables to get a low interest rate on your home loan temporarily and is particularly helpful to people looking for a big loan…
Canadian Mortgage Canadian Mortgage is an old English term derived from two French words “mort” and “gage” meaning dead pledge. It is a…
Capped Rate Mortgage Capped Rate Mortgage refers to that mortgage type, which enables the borrower to know how much repayments he/she will be making during the…
Cash Back Mortgage Cash Back Mortgage is a technique, which gives cash incentive to a borrower, in addition to the money he/she is going to borrow. It can offer…
Cheap Mortgages Cheap mortgages are the mortgages, which are obtained against any personal or commercial property. They require very low mortgage payments….
Commercial Mortgage A commercial mortgage is a mortgage secured by real estate, in which real estate is used for business purpose. Common aspects of commercial…
Direct Reduction Mortgage Direct Reduction Mortgage is an amortized mortgage, in which principal and interest are calculated on the remaining balance. More References…
Fixed Rate Mortgage Fixed rate mortgage is a type of mortgage, in which the rate of interest does not change during the entire loan period. It is also known as…
Flexible Mortgage Flexible mortgage commonly known as Austrian style mortgage is a type of mortgage which gives permission to a borrower, to make overpayments and…
High Ratio Mortgage High ratio mortgage refers to a mortgage, in which the amount of money borrowed is equal to or greater than 75% of the purchase price of the…
Hybrid mortgage has a balanced combination A Hybrid Mortgage is a combination of the features of a fixed rate mortgage and an adjustable rate mortgage. In an environment where rates are…
Interest Only Mortgage Interest only mortgage is the smart money management tool used by the lenders. It gives an option to the borrower, to just pay the interest…
Participation Mortgage Participation Mortgage is a type of mortgage, where one or more lenders participate in getting payments of principal and interest of the mortgage…
Piggyback Mortgage – Unconventional in Nature A piggyback mortgage is a combination of two loans where one is added to the other. It combines a standard first mortgage with a home equity line…
Pre-Approved Mortgage Pre-Approved mortgage is a mortgage, which involves preliminary approval of borrower’s application by the lender, for granting a mortgage to a…
Private Mortgage Private mortgage is a type of financing alternative, which is granted by the private lenders. It comprises of mortgage loans which are made by…
Refinance Mortgage Refinance Mortgage is a technique where the repayments of an existing mortgage are made from the proceeds of a new mortgage loan, using the same…
Remortgage Remortgage as the word suggests is mortgaging once again on the same collateral. The present mortgage debt is first cleared. Then a new mortgage…
Reverse mortgage Reverse mortgage is a type of loan available to older homeowners. This mortgage has been introduced with the aim to make retired senior citizens…
Second Mortgage Second mortgage refers to that mortgage loan, which involves a second lien on the property. This does not change the terms of the existing…
Simple Interest Mortgage Simple Interest Mortgage consists of daily calculation of borrower’s interest rate, on the basis of principal balance at the time of last…
Wraparound Mortgage
Wraparound Mortgage is a type of mortgage, which has a function of wrapping around an existing first mortgage. The borrower of this mortgage…