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A mortgage loan or simply mortgage, in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate.
About Us
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
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Mortgage Loan Types
Loan to value and down payments.
Payment and debt ratios.
Value: appraised, estimated, and actual.
Foreign currency mortgage.
Legal Requirements
- INTEREST
Interest may be fixed for the life of the loan or variable, and change at certain pre-defined periods; the interest rate can also, of course, be higher or lower. - TERM
Mortgage loans generally have a maximum term, that is, the number of years after which an amortizing loan will be repaid. - PAYMENT AMOUNT & FREQUENCY
The amount paid per period and the frequency of payments; in some cases, the amount paid per period may change or the borrower may have the option to increase or decrease the amount paid. - PREPAYMENT
Some types of mortgages may limit or restrict prepayment of all or a portion of the loan, or require payment of a penalty to the lender for prepayment.
Mortcare
Main Office
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+1 (234) 567 8910
54 C Example St, New York, NY 10003, USA
54 C Example St, New York, NY 10003, USA
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