Mortgage Glossary
Mortgage
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A mortgage is a loan secured by real estate, where the property serves as collateral until the debt is repaid.
What Mortgage means
You repay principal and interest over a set term, and the lender holds a lien that allows foreclosure on default. Mortgages make homeownership possible without paying the full price upfront.
Florida example
A Florida buyer finances a $350,000 home with a 30-year mortgage, putting down a fraction and repaying the rest monthly. Once the loan is paid off, the lien is released and they own the home outright.
Related program: Learn more →
Related Mortgage Terms
Still have questions?
Talk to a licensed Florida mortgage broker — no cost, no obligation.