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Mortgage Loan Glossary

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Equity mortgage loan

An equity mortgage loan is a type of mortgage loan you can get by simply having equity in real estate. Equity in real estate is when you have money invested in a property, whether you completely own it or have a mortgage loan on it that's somewhat paid off.

Equity take out mortgage loan

A type of mortgage loan that can get you equity out of your real estate. In other words, an equity take out mortgage loan can get you cash out of any real estate that you've invested your money in - whether you totally own it, or have a mortgage loan on it that's somewhat paid off.

Extra mortgage loan payments

Extra mortgage loan payments are home mortgage loan payments that you make that are bigger in amount than regular mortgage loan payments. There are two kinds of extra mortgage loan payments. One kind is 'increased' mortgage loan payments - payments that are your regular mortgage loan payments increased by a certain amount. And another kind is double-up mortgage loan payments - payments that are your regular mortgage loan payments exactly doubled.