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GLOSSARY OF MORTGAGE TERMS

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BLENDED PAYMENTS:
THE METHODS OF REPAYMENT WHERE PERIODIC PAYMENTS OF PRINCIPAL AND INTEREST ARE MADE IN SUCH A WAY THAT THE PAYMENTS REMAIN CONSTANT IN AMOUNT, ALTHOUGH THE PORTIONS ATTRIBUTED TO PRINCIPAL AND INTEREST WILL VARY WITH EACH PAYMENT.

BORROWER:
THE CLIENT WHO OWES THE MONEY ON THE MORTGAGE. ALSO KNOWN AS THE MORTGAGOR.

BROKERAGE FEE:
A FORM OF COMPENSATION PAID TO AN INDEPENDENT OR COMPANY IN FURTHERANCE OF A MORTGAGE TRANSACTION.

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Glossary of Terms
   

*Mortgage Edge assumes no responsibility for the use or application of any comments and/or formulas on this site. Any areas concerning taxes, investments,mortgages, insurance or specific legal situations should be referred to lawyers, accountants, financial consultants, realtors or other licensed professionals, qualified or authorized to render such advice. Additionally, all concierge services are paid advertisers, and Mortgage Edge does not warrant or guarantee any work provided. All Rates are subject to change without notice and may vary based on individual application. O.A.C. Fees may apply in some circumstances on unqualified transactions.


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