A mortgage note, also known as a promissory note, is a legal agreement to repay your mortgage. It outlines the terms agreed upon between you and your lender, including the amount you owe, your ...

A mortgage commitment letter is a document that a lender provides to show you're likely to be approved for a mortgage. There are two types of mortgage commitment letters: firm and conditional.

A letter of explanation for a mortgage is a document that provides further details about an applicant’s creditworthiness or financial circumstances. The letter of explanation addresses red flags that ...

A mortgage note represents a home loan for a given borrower. The note is a security instrument that allows the loan to be grouped with other mortgages after closing and sold to investors. A mortgage ...

Investing in mortgage notes is an appealing alternative to purchasing properties outright and becoming a landlord. However, unlike a hard real estate purchase, you don’t own the property when you ...

Matt Webber is an experienced personal finance writer, researcher, and editor. He has published widely on personal finance, marketing, and the impact of technology on contemporary arts and culture.

Buying a home is an exciting time. If you're like millions of other buyers around the country, you will need a mortgage to buy the home. In that case, you’ll be required to sign your mortgage note at ...