residential mortgage

residential mortgage definition - business

residential mortgage

A loan to purchase residential real estate that serves as security for the loan. Interest paid on a home mortgage secured by a main home or second home is generally deductible for tax purposes.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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