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Finance Dictionary and Glossary of Investment Terms
A loan, secured by the collateral of some specified real estate property, in which the borrower is obligated to make a predetermined set of payments to repay the loan.
A loan secured by the collateral of some specified real estate property that obliges the borrower to make a predetermined series of payments.
A loan to finance the purchase of real estate, usually with specified payment periods and interest rates. The borrower (mortgagor) gives the lender (mortgagee) a lien on the property as collateral for the loan.