<Li> Mortgage: the security interest of the lender in the property, which may entail restrictions on the use or disposal of the property . Restrictions may include requirements to purchase home insurance and mortgage insurance, or pay off outstanding debt before selling the property . </Li> <Li> Borrower: the person borrowing who either has or is creating an ownership interest in the property . </Li> <Li> Lender: any lender, but usually a bank or other financial institution . (In some countries, particularly the United States, Lenders may also be investors who own an interest in the mortgage through a mortgage - backed security . In such a situation, the initial lender is known as the mortgage originator, which then packages and sells the loan to investors . The payments from the borrower are thereafter collected by a loan servicer .) </Li> <Li> Principal: the original size of the loan, which may or may not include certain other costs; as any principal is repaid, the principal will go down in size . </Li>

Where do you go to get a mortgage loan