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Mortgage types |
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Mortgage typesFor example, repayment or interest. Or fixed, capped, tracker, discount or stepped rate etc.Mortgage types Similar MatchesAll inclusive Trust Deed (wrap around mortgage)All inclusive Trust Deed (wrap around mortgage)A financing technique which involves the creation of a new trust deed which includes the balance due on the existing note plus any new funds advanced. Second mortgageSecond mortgageThe taking out of a mortgage on a property which is already mortgaged. This can be used to raise capital if the property has significantly increased in value and would involve finance companies rather than banks or building societies. Since the first mortgagee (lender) usually holds the deeds of the property, the second mortgagee will carry a higher risk and thus charges a considerably higher rate of interest. Private Mortgage Insurance (PMI)Private Mortgage Insurance (PMI)Policy protecting the holder against loss resulting from default on a mortgage loan. Conventional mortgageConventional mortgageA loan based on the credit of the borrower and on the collateral for the mortgage. Interest only mortgageInterest only mortgageA mortgage where regular payments (usually monthly) only meet the interest requirements. The interest rate is usually variable and linked to prevailing rates but can be fixed for a given period. The capital amount outstanding remains approximately the same and the borrower will need to make additional provision for repaying this amount at the end of the term of the loan. Further SuggestionsRemortgageMortgage interest deduction Mortgage application Take back mortgage Full status mortgage Adjustable rate mortgage (ARM) Mortgage Servicing H Hard Money Mortgage Stepped discount mortgage shared appreciation mortgage mortgagee Growing Equity Mortgage (gem) Non status mortgage Assumable mortgage Insured Mortgage Growing Equity Mortgage (GEM) One hundred percent mortgage Mortgage broker mortgage Mortgage pipeline Renegotiable Rate Mortgage Secondary Mortgage Market MIG Mortgage Indemnity Guarantee Lehman Brothers Adjustable Rate Mortgage Index Shared appreciation mortgage |
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