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Partial Payment at Mortgage Glossary

What is it? A payment that is less than the monthly payment.

Mortgage Dictionary Term Added By: Emily

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Other Similar Mortgage Terms:

Mortgage Term Mortgage is A legal document by which real property is pledged as security for the repayment of a loan.

Mortgage Term Sales contract is A contract signed by the buyer and sellerthat details the terms of a home purchase.

Mortgage Term Grade level is The flat or sloping surface upon which a house is built.

Mortgage Term Deed Restrictions is Provisions placed in deeds to control future uses of the property. (See covenants, conditions & restrictions, restrictive covenants)

Mortgage Term Basis is The dollar amount that the Internal Revenue Service attributes to an asset for purposes of determining annual depreciation or cost recovery, and gain or loss in the sale of the asset. The determination of basis is of fundamental importance in tax aspects