Choose the letter of the term you want to see.
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Market Value |
The highest price which a ready, willing and able buyer would pay and a willing seller will accept, both being fully informed under no pressure to act. The market value may be different from the price a property can actually be sold for at a given time (market price). |
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Maturity |
The termination or due date on which final payment on a loan must be paid in full. |
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Monthly Payment |
Usually, the amount of PITI (principal, interest, taxes, and insurance) paid each month on a mortgage loan. |
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Mortgage |
The conveyance of an interest in real property given as security for the payment of a loan. |
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Mortgagee |
The lender in a mortgage transaction. |
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Mortgage Insurance Premium (MIP) |
The consideration paid by a mortgagor (borrower) for mortgage insurance - either to the FHA or to a private mortgage insurer. |
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Mortgage Note |
A written promise to pay a sum of money at a stated interest rate during a specified term. The note contains a complete description of the conditions under which the loan is to be repaid and when it is due. |
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Mortgagor |
The borrower in a mortgage transaction who pledges property as security for a debt. |
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