What is a Mortgage?

The original phrase “mort gage” translates as “death pledge”! But as this video explains, a mortgage is a loan obtained to purchase real estate.

The “mortgage” itself is a lien – a legal claim on the home or property that secures the promise to pay the debt.

All mortgages have two features in common: principal and interest.

The principal is the amount you are borrowing which is “secured” by the lender’s claim on the property.

The interest, usually stated as the percentage rate is the additional amount paid for borrowing. Mortgage interest is ‘compounded’ – interest on interest, over time.

"Once again, the staff at BesTitle in Jackson, OH knocked this difficult closing out of the park! Such a super group to work with."

Missy B. - Realtor - OH

01 02 03

"Great company and service. They helped us to close on our house quickly and answered all questions that we had. Would definitely recommend..."

Nichole S. - Huntington, WV

01 02 03

"Always a great experience with BesTitle!"

Joey B. - Selling Agent - WV

01 02 03