Mortgage and note terminology can be a bit confusing...

When we're talking about a mortgage, we're usually talking about two things: the promissory note and the mortgage.

The promissory note is the document that details the loan you'll be receiving from the lender. It will outline the terms and costs of the loan.

The mortgage is the document that pledges the subject property as security for the promissory note. It outlines the right the lender has to foreclose on the property if there are missed payments or a breach of contract.

So, the promissory note is the actual loan you'll receive and the mortgage ties your loan and property together.

Not too bad, right?


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Kyle Seagraves
Mortgage Consultant
Motto Mortgage Alliance
NMLS# 1701021

0:00 What is a Mortgage Note?
0:17 Promissory note
0:49 The Mortgage

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Motto Mortgage Alliance
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8900 N. Dixie Dr.
Dayton, OH 45414

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