A
residence mortgage is a loan that a person or couple takes out to buy a home or property. It is a type of loan where the house or property is used as collateral, meaning that if the borrower fails to make their mortgage payments, the lender has the right to take possession of the property.
Full definition
Synonyms for individual words can be found below.
«residence»
«mortgage»
Sentences with «residence mortgage»
- Mortgage rates offered on second homes and / or vacation homes are usually the same as rates offered on primary residence mortgages. (firstib.com)
- I have never been late on my primary residence mortgage. (massrealestatenews.com)
- The five - year posted rate dropped from around 13 per cent in 1989 to the present day five per cent, fuelling the expansion of the secondary and investment housing market and the creation of new lending vehicles, especially the principal residence mortgage and line of credit, much maligned as an ATM but nonetheless a creative tool unimagined 25 years ago. (remonline.com)
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