Back to Glossary
Term
Updated
January 19, 2023
Often referred to as the number of years a borrower is given to repay a mortgage loan. A term will set the schedule for monthly payments during the loan period.
Related Topics
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?
What Does Foreclosure Mean?
What Is a HELOC Loan?