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Transcript of Mortgages
Hipoteca/crédito hipotecario/préstamo hipotecario
, secured by the
collateral of specified real estate property
, that the borrower is obliged to pay back with a predetermined set of payments.
Let's get down to work!
(bienes afectados a la garantía)
(frecuencia de pago)
Term of agreement
(plazo del contrato)
(período de amortización)
(hipoteca convencional) → a loan for no more than 80% of the purchase price of the property.
(hipoteca con alto nivel de endeudamiento)→ the borrower places a down payment of less than 20% of the purchase price on a home.
(préstamo con amortización del capital al vencimiento)→ the borrower repays only the interest on the loan for the term of the loan, and then repays the principal at the end of the period of time.
(crédito hipotecario a tasa fija)→ the borrower pays the same interest rate for the life of the loan.
Variable-rate mortgage / adjustable-rate mortgage
(crédito hipotecario a tasa variable)→ the interest rate fluctuates with market interest rates.
Find the equivalents for these terms:
Deudor hipotecario/prestatario (US)
Acreedor hipotecario/prestamista (US)
Otorgar un préstamo
Over a period of many years, the borrower repays the loan, plus
, until he/she eventually owns the property free and clear.
If the borrower stops paying the mortgage, the bank can
What is a mortgage?
acreedor hipotecario (prestamista)
deudor hipotecario (prestatario)
Mortgages are used by individuals and businesses to make large real estate purchases without paying the entire value of the purchase
a) Identify the parties to the mortgage in this video.
b) Which type of mortgage would you choose if you would like to lock in your monthly payments?
c) What will the bank do once it has checked that Patrick is creditworthy?
d) How does the mortgage lender protect itself from Patrick’s default?
e) What happens when a borrower’s payments are past due?
Watch the video and answer these questions: