Home mortgage definition

Home mortgage or “mortgage” means an interest-bearing loan made as provided in this part to a mortgagor, whether originated in the manner provided in subdivision (a) or (b) of Section 52020 that is evidenced by a promissory note and secured by a mortgage, deed of trust, or other security instrument on a home, and that may but is not required to be additionally secured by insurance on the payment of the note for the purpose of purchasing, constructing, or improving a home that meets either of the following criteria: (1) Is newly constructed or is being rehabilitated and that, in either case, is located within an area or neighborhood in which the city or county is conducting a housing rehabilitation or code enforcement program, a neighborhood preservation area or concentrated rehabilitation area designated pursuant to this division, an area for which federal funds are being made available, or a residential rehabilitation area as defined in Section 37912. However, a loan may be made for the purchase of a newly constructed home anywhere within the city or county if the purchase is in connection with a program adopted by ordinance of the city or county the purpose of which is to increase the housing supply. (2) Is a home upon which no rehabilitation is being undertaken in connection with any financing pursuant to this part, where the purchaser will not be the first occupant, and that is located within the city or county making or purchasing the home mortgage. (b) A “home mortgage” or “mortgage” shall not include a loan to a mortgagor for the purpose of refinancing an existing obligation of the mortgagor, unless substantial rehabilitation is to be undertaken in connection with the loan. (c) This section shall become operative January 1, 2012.

Home mortgage means an interest-bearing loan to a mortgagor, or a participation in such a loan, that is:

Home mortgage. – means a mortgage with first priority recorded upon property owned by the applicant which is the applicant’s primary residence.

Examples of Home mortgage in a sentence

• Interest fee rate in case of unsecured loans is defined in Unsecured Loans Condition List, in case of Mortgage loans in Raiffeisen Home mortgage loans and Personal loans with Real Estate Collateral Loans I.

• List of Conditions 4th appendix.In case of Home mortgage loans after termination until 90th day, in case of Personal loans with Real Estate Collateral interest fee valid on day of termination is valid.

• Reference interest rate in case of unsecured loans is defined in Unsecured Loans Condition List in the first appendix, in case of Mortgage loans in Raiffeisen Home mortgage loans and Raiffeisen Personal loans with Real Estate Collateral Loans I.

• Conditions regarding transparent pricing are defined in the effective Raiffeisen Home mortgage loans and Personal loans with Real Estate Collateral Loans IV.

• Definition of the reference base rate which is base for the default interest is defined in Raiffeisen Home mortgage loans and Personal loans with Real Estate Collateral Loans I.

More Definitions of Home mortgage

Home mortgage means the mortgage granted by Grantee to Grantor on his/her Home to secure Xxxxxxx’s performance of the Obligations. The form of the Home Mortgage is attached as Exhibit B.

Home mortgage means a loan . . . which meets all of the following four requirements: * * * (2) The loan is secured by a lien on . . . real estate . . . designed principally for the occupancy of from 1 to 4 families . . . or the loan is secured by a pledge of cooperative stock or interest corresponding to a 1 to 4 family residential cooperative unit; (3) the Mortgaged Property is located in a State; "89

Home mortgage means a mortgage in respect of a dwelling house occupied by the mortgagor ex- clusively as a family residence;

Home mortgage means a mortgage in respect of a dwelling house occupied by the mortgagor exclusively as a family residence;

Home mortgage means a mortgage, as herein-after defined, granted over any premises that at the passing of this Act are used by the

Home mortgage means an interest bearing loan for not to exceed thirty (30) years to a mortgagor for the purpose of

Home mortgage means a loan which is not made to finance an exempt transaction under section 82.4(b) and which meets all of the following four re­ quirements: