Mortgage Glossary

We are into spring now, and many of you are in the house hunting market for the very first time. This is a very daunting task as you begin to realize that not only do you need to find a home that will fit your needs and personality but one that can fit your budget.

At this point you are ready to start shopping for the best mortgage product which suits your needs. The problem in trying to secure a mortgage is that as a novice buyer you are going to come across a lot of terms that you have never heard before. The following can serve as a glossary so that you can make an educated decision as to what type of mortgage best suits your needs.

Bridge Financing

Closed Mortgage

Convertible Mortgage

Fixed Rate

Mortgage Refinancing

Open Mortgage

Reverse Mortgage

Variable Rate

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