06/18/2026
Mortgage Term of the Day:
A Higher-Priced Mortgage Loan is a home loan with an interest rate significantly above the average prime offer rate.
⚠️ Because these loans carry more risk, they come with extra consumer protections, including:
🔹 Mandatory escrow accounts for taxes and insurance
🔹 Strict appraisal requirements
🔹 Limits on fees and points
💡 Good to know: HPMLs help protect borrowers from risky loan terms.