Whether applying for your first mortgage or refinancing your existing mortgage, there are several features of mortgage plans that you should compare before deciding which mortgage suits you best. Things to consider are: Fixed-rate annual percentage rate (the cost of your loan as a yearly rate...

Acceleration The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor (borrower), or by using the right vested in the Due-on-Sale Clause. Adjustable Rate An interest rate that changes periodically in relation to an...