Loans — Mortgage

: The cost charged by the lender for borrowing the money, usually expressed as a percentage rate.

: Monthly payments often include additional funds for property taxes and homeowners insurance, which the lender holds and pays on your behalf. Common Types of Mortgage Loans

: Mortgages that exceed the local conforming loan limits set by the Federal Housing Finance Agency. Comprehensive Guide to Mortgage Loan Types - Canal Bank

: The actual amount of money you borrow to buy the home.

: The interest rate remains the same for the entire life of the loan, providing predictable monthly payments.