first mortgage

• homeOne's personal residence
• loanBorrowed money repaid later
• lenderOne who loans money
• down paymentInitial sum toward purchase
• interest rateCost of borrowing money

principal · equity · closing · deed · title · refinance · amortization · monthly payment · escrow · collateral · borrower · bank · approval · credit score · property · homeowner · debt · foreclosure

• foreclosureforeclosure auction, forced sale, foreclosure prevention, foreclosure notice, foreclosure sale