Key terms
While working with your mortgage company, it’s important to understand the mortgage terms that may be used so you can have a better (and easier) discussion with your mortgage company.
Interest-Only Mortgage
A mortgage where the homeowner pays only the interest on the loan for a specified amount of time.
Investment Property
A property not considered to be a primary residence that is purchased by an investor in order to generate income, gain profit from reselling or to gain tax benefits.
Investor
The owner of the loan on a property.