What is a Noni mortgage?
Nonmortgage definition
(finance) Not involving a mortgage. adjective.
What is a lender's mortgagee clause?
A mortgagee clause protects your lender's portion of the sales price by enacting a provisional agreement between the lender and a property insurance company. This specific type of clause shields the lender from significant losses in the event that the mortgaged property is damaged or destroyed.
What is a lender?
A lender is a financial institution that makes loans directly to you. A broker does not lend money. A broker finds a lender. A broker may work with many lenders. Whether you use a broker or a lender, you should always shop around for the best loan terms and the lowest interest rates and fees.