Term refers to duration in mortgage. The term of a loan is the period of time between the loan closing and the day full repayment is due. For example, a 15-year fixed-rate loan has a term of 15 years.
Term refers to duration in mortgage. The term of a loan is the period of time between the loan closing and the day full repayment is due. For example, a 15-year fixed-rate loan has a term of 15 years.