Diffen › Finance › Personal Finance ; Mortgages are types of loans that are secured with real estate or personal property. A loan is a relationship between a lender and borrower. The lender is also called a creditor and the borrower is called a debtor. The money lent and received in this transaction is known as a loan: the creditor has "loaned out" money, while the borrower has "taken out" a loan. The amount of money initially borrowed is called the principal. The borrower pays back not just the principal but also an additional fee, called ...
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Reverse Jumbo Purchase The reverse Jumbo product will be offered when a qualified borrower has requested loan proceeds in excess of the HECM limits, or when HECM financing is not otherwise availabl...
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