Definitions for "Mortgage Offer"
The formal offer of mortgage issued by the mortgage lender to the borrower. It contains details of the amount of loan, the term over which it is repayable and the terms and conditions of the loan.
This specifies the terms upon which the Lender is prepared to make the loan including the specific financial details and period of repayment
A simplified summary of a proffered mortgage given to borrower to clarify the loan's details.