Home Loans: Get the Best Home Loan for You

By: KeithTimimi   Date: 23 December 2009

About The Author

KeithTimimi

The free-spirited family-man internet entrepreneur who fell in love with the study of economics. And

Keith Timimi, Contributor

 

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A home loan is used to purchase a house or apartment, and is the most common type of loan.

Home loans are called mortgages in most countries, and they constitute a vast market worth trillions of dollars.

Here are some of the most common and useful home loan definitions:

 

  • a loan secured by the equity value in and of the borrower's home
    wordnetweb.princeton.edu/perl/webwn
  • A home loan or mortgage is the transfer of an interest in property to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it acts as the loan provider's security for a debt. ...
    en.wikipedia.org/wiki/Home_Loan
  • The funds a buyer has to borrow  to purchase a property, generally secured by a registered mortgage over the property being purchased. A service usually provided by a bank, building society, credit union or similar financial institution
    www.clickconveyancing.com.au/Dictionary.htm
  • A residential mortgage loan is secured for houses, apartments or a condominium unit (condos), for families, individuals, groups of friends or collectives to live in.
    www.ncbuy.com/credit/glossary.html
  • A home loan that is the primary lien against a property. Note: this means that you own the property rather than the financier, but if you default, the bank as the primary lien holder will then take possession of the property
    www.austintexashomes.com/glossaryf.htm
  • Not a mortgage, but it is the actual amount of money a buyer owes the lender in the purchase of a home.
    www.mortgagecalculator.org/helpful-advice/glossary.php
  • A home loan requires you to pledge your home as the lender's security for repayment of your loan. The finance provider agrees to hold the title or deed to your property until you have paid back your loan plus interest.
    pfgmortgagemanagers.com.au/glossary/
  • A home loan has these characteristics: a) Money lent at interest; b) something lent usually for the borrower's temporary use, and in the case of the home loan that use is to pay back the mortgage to the bank.
    www.karensoldmyhome.com/431054.html

 

 


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