Examlex
The median is the middle number in a group onumbers arranged in order from highest to lowest.
Mortgage Loans
A loan secured by the collateral of some specified real estate property which the borrower is obliged to pay back with a predetermined set of payments.
Mortgage Insurance
An insurance policy designed to protect the lender from the risk of default and foreclosure on a mortgage.
Down Payment
The part of the purchase price of real property that is paid in cash up front, reducing the amount of the loan or mortgage.
Adjustable-Rate Mortgage
A home loan with an interest rate that can change periodically based on changes in a corresponding financial index.
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