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

Examples of Home mortgage in a sentence

• This Agreement, along with the TPO Commitment to Union Home Mortgage Corp.

• The Parties agree that the acceptance of Short Sale is contingent upon the approval of Xxxxx Fargo Home Mortgage, FHA, VA government agencies, any investor, and/or mortgage insurance companies.

• This Addendum to the parties’ Wholesale Broker Agreement (the “Agreement”) is entered into as of the day of , 20 (the “Effective Date”) between Union Home Mortgage Corp.

• The institution will be utilizing depository funds for funding transactions and therefore does not have a Warehouse Lender* (* if applicable remainder of form does not need to be completed) Warehouse Institution Name: Attention: E-mail: Address: City: State: Zip: Phone Fax Warehouse Line Amount: $ Date Opened: Client Name: ABA#: Account #: Lender Authorization We authorize the release of the information regarding our Warehouse Line of Credit to Union Home Mortgage Corp.

• Buyer’s to have a pre-approval letter from their lender and MUST be pre-approved by Xxx Xxxxx from Union Home Mortgage at xxxxx://xxx.xxxxxxxxxXxx.xxx Click on the Short Application Button.

More Definitions of Home mortgage

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

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

Home mortgage means a loan, a portion of or participation in a loan, theretofore, or thereupon being, purchased or made by the Agency with respect to a Home pursuant to and in accordance with the Act, the Program and, to the extent required by the Indenture, Section 143 of the Code, from moneys in a Program Account, evidenced by a Note and secured by a Mortgage; provided that any such portion or participation is secured by a lienat least equal in priority to the lien securing any other portion of or participation in the loan financed from sources other than the proceeds of Bonds, but need not be identical as to interest rate, time or rate of amortization or otherwise.

Home mortgage means a mortgage, as herein- after defined, granted over any premises that at the passing of this Act are used by the mortgagor, not being a farmer, exelusively or principally for his own occupation as a

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 exclusively as a family residence;