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60Repayment Mortgage
A repayment mortgage is a term generally used in the UK to describe a mortgage in which the monthly repayments consist of repaying the capital amount borrowed as well as the accrued interest. The mortgage...
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62Interest Only Mortgage
An interest-only mortgage loan is a loan in which, for a set term, the borrower pays only the interest on the principal balance, with the principal balance unchanged. At the end of the interest-only term the...
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59Balloon Mortgage
A balloon mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due at maturity. The final payment is called a balloon payment because of its large size....
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65Flexible Mortgage
The term flexible mortgage refers to a UK residential mortgage that offers flexibility in the requirements to make monthly repayments. Typical features include the facility tomake overpayments (more than...
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59Negative Amortization
In finance, negative amortization, also known as NegAm, occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan...
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63Jumbo Mortgage
A jumbo mortgage is a mortgage loan which is above the conventional loan limit set by Fannie Mae (FNMA, Federal National Mortgage Association) and Freddie Mac (FHLMC,Federal Home Loan Mortgage Corporation). ...
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68Home Mortgage Loans
Home mortgage loans are loans in which your home serves as the collateral for the loan. In the event that you fail to repay the loan secured by your home, the loan gets foreclosed and the home is sold to...
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64Adjustable Rate Mortgage
An Adjustable-Rate Mortgage (ARM) is a form of mortgage loan that is tied to the changing market trends. Its interest rate is tied to the U.S. Treasury Bills or some other economic indices. When the interest...
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72Fixed Rate Mortgage
A Fixed-Rate Mortgage (FRM) is a type of mortgage loan in which the interest rate is fixed. This means the interest rate will be the same for the entire life of the loan. This also means your monthly...
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69Reverse Mortgage
If you are looking for a source of fund and you are a senior citizen at least 62 years of age, you may want to take a look at the possibility of making a loan that is called a Reverse Mortgage. Reverse...
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