real estate loan
Home purchase debt
A real estate loan is money borrowed to purchase, build, or improve property, with the property itself serving as collateral.
The term covers mortgages on homes and commercial buildings alike: They secured a real estate loan at 6.5 percent.
If the borrower defaults, the lender can seize the property to recover the debt.
- mortgageSecured home loan
- lenderOne who loans money
- borrowerOne who takes temporarily
- down paymentInitial sum toward purchase
- closing costsFees finalizing property purchase
interest rate · closing · good faith estimate · escrow · principal · amortization · equity · second mortgage · refinance · collateral · appraisal · underwriting · preapproval · fixed-rate · adjustable · interest only · prime rate · foreclosure
- business debtcredit line, line of credit, accounts payable, balloon payment, corporate bond
- secured debtcollateral, lien, mortgage lien, tax lien, mechanic's lien
real estate loanpersonal loan
Unsecured individual borrowing
unsecured loan · credit card debt · signature loan · auto loan · car loan
real estate loanunsecured loan
Debt lacking pledged property
unsecured debt · signature loan · payday loan · installment loan
real estate loanpersonal loan
Unsecured individual borrowing
student loan · business loan · commercial loan · auto loan · vacation loan
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