Declaration of a Mortgage

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Housing loan applications usually require a declaration of a mortgage. The declaration normally includes acknowledgements of financial commitments, of transferability, and of higher lending charges,

Acknowledgement of Financial Commitments

The mortgage declaration includes a clause stating the signor's acknowledgment of new or additional financial commitments as a result of obtaining the mortgage. This clause includes a statement clarifying the risk of losing the home due to failure to make mortgage payments.


A declaration of mortgage usually contains a clause specifying the signor's ability to transfer or assign interests he may have in the mortgage.

Higher Lending Charge

Some lenders require the mortgage declaration to acknowledge a possible higher lending charge under certain conditions. This higher charge is applied to loans exceeding a certain percentage of loan to value.


About the Author

Le Bach Pham has been writing professionally since 2002 and currently writes articles for various websites. He served as an editor for "The Mesa Press" and graduated from the University of California, San Diego with a Bachelor of Arts in English literature.

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