Word forms: (regular plural) conventional mortgages
nounRelated words MortgagesAn ARM is a type of mortgage where the interest rate may change according to changes in
other rates and a balloon mortgage is a mortgage in which you make small payments over a period of time and repay the
balance in one large final payment.A HELOC is an additional loan secured by a residence as well as the original mortgage, whereas
a reverse mortgage is a mortgage on a paid-off property that provides money to an older retired person,
to be paid back when the property is sold or when the person dies. ( Finance : Mortgage )
At 10 percent interest, $250 a month will support a 30-year conventional mortgage worth nearly $28,500.
The average rate on a 30-year conventional mortgage in New York state was 10.04 percent.
A conventional mortgage is a fixed rate mortgage with a standard term of 15, 20, or 30 years.
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