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A mortgage loan is a loan that is used to either purchase a property or get a loan with your property as collateral. You can secure a mortgage through financial institutes like banks, credit unions or mortgage companies like Fannie Mae.

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11y ago

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Related Questions

How can I pay my mortgage loan on-line?

“How can I pay my mortgage loan on-line?”


How can you remove the cosigner from a mortgage?

You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.


How could one pay a home mortgage online?

You can pay a Home Mortgage online. If your loan is with Wells Fargo, Chase Bank, Bank of America or US Bank you can go to their website and pay your Mortgage loan there. However if your Loan is with a Mortgage Company such as Plaza Home Mortgage you will have to go through your own Bank's Bill pay system to pay your loan online.


To fail to pay a loan or mortgage?

default


Do you still have to pay back your mortgage if your house for sale?

Of course. Until you pay off the mortgage loan, you have to pay payments on the home.


To fail to pay a loan or mortgage when it is due?

Default


Will private mortgage insurance pay your loan if you default?

no


What are expenses that apartment dwellers do not have to pay?

A mortgage loan


Should you pay off a default loan before or after you apply for a Mortgage?

You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.


How do you buy property without having to make mortgage payments?

Pay cash. If you pay everything up front, there is no mortgage. If you can't pay for it up front, you are going to need a loan. And a loan is going to have to be secured. And if the security is the property, you have a mortgage. Having a mortgage is not all bad, the interest on the loan for a home is deductable on your income tax.


Do I have to pay mortgage insurance?

Whether or not you have to pay mortgage insurance depends on the type of loan you have and the amount of your down payment. If you have a conventional loan and put down less than 20 of the home's value, you will likely be required to pay mortgage insurance. However, if you have an FHA loan, mortgage insurance is typically required regardless of your down payment amount.


When can you remove the mortgage insurance from your loan?

1. when the bank allows or 2. when you pay off the mortgage.