New Home Tallahassee - Subsidized Second Mortgage - Real Estate Glossary

Home

Real Estate Glossary

Begins with Contains Exactly matches
All \| A \| B \| C \| D \| E \| F \| G \| H \| I \| J \| L \| M \| N \| O \| P \| Q \| R \| S \| T \| U \| V \| W
Subsidized Second Mortgage	An alternative financing option known as the Community Seconds® mortgage for low- and moderate-income households. An investor purchases a first mortgage that has a subsidized second mortgage behind it. The second mortgage may be issued by a state, county, or local housing agency, foundation, or nonprofit corporation. Payment on the second mortgage is often deferred and carries a very low interest rate (or no interest rate). Part of the debt may be forgiven incrementally for each year the buyer remains in the home.
All \| A \| B \| C \| D \| E \| F \| G \| H \| I \| J \| L \| M \| N \| O \| P \| Q \| R \| S \| T \| U \| V \| W
Glossary V2.0

Upscale Homesite