This down payment may be expressed as a portion of the value of the property ( see below for a definition of this term). The loan to value ratio (or LTV) is the size of the loan against the value of the property. Therefore, a mortgage loan in which the purchaser has made a down payment of 20% has a loan to value ratio of 80% .
Define mortgage: a conveyance of or lien against property (as for securing a loan ) that becomes void upon payment or… — mortgage in a sentence.
Definition of mortgage: A legal agreement that conveys the conditional right of ownership on an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan. The lender's security ...
mortgage meaning: 1. an agreement that allows you to borrow money from a bank or similar organization by offering something of value, esp. in order to buy a house or apartment, or the amount of money itself: 2. to offer something of value in order to borrow money from a bank or similar…. Learn more.
What is 'Mortgage'. A mortgage is a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the ...
DEFINITION of 'Home Mortgage'. A loan given by a bank, mortgage company or other financial institution for the purchase of a primary or investment residence. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once ...
Mortgage definition, a conveyance of an interest in property as security for the repayment of money borrowed. See more.
Mortgage definition: A mortgage is a loan of money which you get from a bank or building society in order to... | Meaning, pronunciation, translations and examples .
A mortgage is a loan that a bank or mortgage lender gives you to finance the purchase of a home. The home you buy acts as collateral in exchange for the money you are borrowing.