Balloon mortgageA mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Guarantee mortgageGuarantee mortgage
A loan guaranteed by a third party, such as a government institution.
Closed end mortgageClosed end mortgage
Mortgage against which no additional debt may be issued.
Mortgage advanceMortgage advance
The money loaned to the buyer, by the lender.
Mortgage incentivesMortgage incentives
The lender may offer a discount or fee-free period on buildings insurance, accident and sickness insurance, redundancy insurance, or payment protection insurance. This is often done to encourage you to take up the policy, which you are then fairly likely to keep in the longer term. Other common incentives include a free valuation and money towards solicitor's fees.
Strip mortgage participation certificate (strip PC)Strip mortgage participation certificate (strip PC)
Ownership interests in specified mortgages purchased by Freddie Mac from a single seller in exchange for separate instruments representing interests in the same mortgages.
Further SuggestionsFederal National Mortgage Association
Alternative mortgage instruments
Lehman Brothers Adjustable Rate Mortgage Index
Lehman Brothers Mortgage Backed Securities Index
Full status mortgage
Direct Reduction Mortgage
Mortgage pipeline risk
Stripped mortgage backed securities (SMBS)
Mortgage code arbitration scheme
shared appreciation mortgage
One hundred percent mortgage
Wholesale mortgage banking
Council of Mortgage Lenders
Gnma (government National Mortgage Association) Options