HOME LOANS

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Description and Tags

Marketing

A-Level Media Studies

3 Terms

1
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Mortgage

A loan to purchase a home (lender owns the title to the property until debt is paid)

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Fixed Rate Mortgage

Home loan with a fixed interest rate that stays the same for the entire length of the loan

3
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Adjustable Rate Mortgages (ARMs)

Home loan with an interest rate that changes over time