Mortgage Loan Agreement (General / Hub) Template

This Mortgage Loan Agreement (the “Agreement”) is entered into as of [Effective Date] by and between:

Lender: [Lender Full Legal Name], address: [Address] (“Lender”).
Borrower: [Borrower Full Legal Name], address: [Address] (“Borrower”).

Lender and Borrower may be referred to individually as a “Party” and collectively as the “Parties.”

1. Loan Documents

1.1 Loan Agreement. This Agreement sets the general terms of the mortgage loan described below.
1.2 Promissory Note. Borrower will execute a promissory note dated [Note Date] (the “Note”) for $[Amount].
1.3 Security Instrument. The Note will be secured by: ☐ Mortgage ☐ Deed of Trust dated [Security Instrument Date] (the “Security Instrument”) encumbering the Property described in Section 2.
1.4 Order of Control. If documents conflict, the Security Instrument controls property security terms; the Note controls repayment mechanics; this Agreement provides general covenants and operational terms (unless stated otherwise).

2. Property Collateral

2.1 Property Address. [Street Address].
2.2 Legal Description. [Insert legal description or attach Exhibit A].
2.3 Ownership. Borrower represents they hold title (or will hold title at closing) and have authority to grant the security interest.

3. Loan Amount and Funding

3.1 Principal. $[Amount].
3.2 Funding Date. [Date].
3.3 Disbursement. ☐ Closing agent/escrow ☐ Direct to Borrower ☐ Payoff to prior lender ☐ Other: [Details].
3.4 Loan Purpose (Optional). ☐ Purchase ☐ Refinance ☐ Construction ☐ Other: [Purpose].

4. Interest and Fees

4.1 Interest Rate. []% per year ☐ fixed ☐ variable (index + margin): [Details].
4.2 Fees (Optional). ☐ Origination fee $[] ☐ Points [] ☐ Closing costs [] ☐ Other: [List].
4.3 Default Interest (Optional). Default interest rate: [__]% (if permitted).

5. Repayment Terms

5.1 Payment Schedule. Borrower will pay:
☐ Monthly payments of $[Amount] due on the [__] day of each month, starting [Start Date]
☐ Interest-only payments until [Date], then amortizing payments
☐ Balloon payment due on [Balloon Date]
☐ Other: [Schedule]

5.2 Maturity Date. The loan matures on [Maturity Date].
5.3 Prepayment. ☐ Allowed without penalty ☐ Prepayment penalty: [Terms].
5.4 Payment Method. Payments by ☐ ACH ☐ wire ☐ check ☐ other: [Method].

6. Escrow, Taxes, and Insurance

6.1 Escrow. ☐ Lender will escrow ☐ Borrower will pay directly.
6.2 Taxes/Assessments. Borrower must pay property taxes and assessments when due.
6.3 Insurance. Borrower must maintain hazard insurance and, if applicable, flood insurance, naming Lender as mortgagee/loss payee.
6.4 Proof. Borrower will provide proof of coverage and payment upon request.

7. Borrower Covenants

7.1 Maintenance. Keep the Property in good condition and prevent waste.
7.2 No Illegal Use. No illegal activity on the Property.
7.3 No Additional Liens. No additional liens without Lender consent, except permitted liens: [List].
7.4 Due-on-Sale (Optional). Transfer of the Property without consent triggers: ☐ acceleration ☐ no acceleration (if allowed).
7.5 Access/Inspection. Lender may inspect with reasonable notice, except emergencies.

8. Defaults and Remedies

8.1 Events of Default. Non-payment, breach of covenants, uninsured loss, unpaid taxes, insolvency, or prohibited transfer.
8.2 Notice and Cure. Borrower has [__] days to cure after notice, if required.
8.3 Acceleration. Upon default, Lender may declare all sums due, subject to applicable law.
8.4 Foreclosure/Enforcement. Lender may enforce the Security Instrument and pursue lawful remedies.
8.5 Costs. Borrower pays reasonable enforcement costs and attorneys’ fees where permitted.

9. Borrower Representations

9.1 Borrower represents that:

• Borrower has authority to enter into the Loan Documents

• Borrower’s information is accurate to the best of Borrower’s knowledge

• Borrower will comply with applicable laws related to the Property and the loan

10. Notices

10.1 Notices must be in writing and delivered to the addresses above.

11. Governing Law

11.1 This Agreement is governed by the laws of [State/Country].

12. Entire Agreement

12.1 This Agreement and the Loan Documents are the entire agreement regarding the mortgage loan.

Signatures

By signing below, the Parties agree to this Mortgage Loan Agreement as of the Effective Date.

Lender: [Full Name]
Date: [Date]
Signature: ___________________________

Borrower: [Full Name]
Date: [Date]
Signature: ___________________________