residential mortgage
House-buying debt
A residential mortgage is a loan secured by a home or other dwelling, used to purchase or refinance the property.
The borrower repays the principal plus interest over a set term, typically fifteen to thirty years.
If the borrower defaults, the lender can foreclose on the property.
They took out a residential mortgage to buy their first house.
- homeOne's personal residence
- dream homeImagined perfect residence
- loanBorrowed money repaid later
- lenderOne who loans money
- bankPlace holding deposits
interest · interest rate · down payment · closing · closing costs · escrow · equity · refinance · amortization · principal · monthly payment · foreclosure · underwater · deed · title · approval · prequalification · fixed-rate
residential mortgagecommercial mortgage
Financing for non-residential real estate
residential mortgageunsecured loan
Debt lacking pledged property
personal loan · credit card debt · signature loan · payday loan · student loan
residential mortgagerenting
Paying for temporary use
leasing · rental agreement · tenancy · lease · rent-to-own
residential, mortgage, reside, resident, residence, residency, residing, resided, resides