residential mortgages
Housing debt instruments
Residential mortgages are loans used to purchase or refinance homes and other dwellings where people live, as opposed to commercial properties.
The home serves as collateral—if the borrower defaults, the lender can foreclose.
Most homebuyers finance their purchase this way: They applied for a residential mortgage with a thirty-year term.
The plural often appears in financial contexts discussing loan portfolios or market conditions.
- principalChief school administrator
- property valueMonetary worth of real estate
- housing marketTrade in residential properties
- borrowerOne who takes temporarily
- debt-to-income ratioPayments divided by earnings
loan officer · foreclosure · home equity · lien · interest rate · monthly payment · interest only · lender · down payment · jumbo loan · deed of trust · appraiser · home inspection · VA loan · title company · closing costs · closing day · servicer
residential mortgagesunsecured loans
Credit without collateral
personal loans · credit card debt · unsecured debt · student loans · auto loans
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