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Meaning / Definition of
100% Mortgage
Categories: Credit and Debt, Real Estate,
A type of loan on a piece of real estate property whereby the borrower receives an amount that is 100 percent of the value of that property, therefore allowing the buyer to purchase that property with no down payment. This, however, will also result in the buyer having no immediate equity in the property.
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Definition / Meaning of
Homeowners Policy Special Form 3 (HO 3)
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