Package Mortgage
A mortgage that finances real property together with personal property, such as appliances and furniture, under one loan.
Quick flashcard
What does Package Mortgage mean on the Texas real estate exam?
Answer: A mortgage that finances real property together with personal property, such as appliances and furniture, under one loan.
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Package Mortgage definition
A package mortgage covers both the real estate and certain personal property inside it, such as appliances, furniture, or fixtures, under a single loan. It is common with furnished condominiums.
It differs from a blanket mortgage, which covers multiple parcels of real estate rather than adding personal property.
Source basis
Definition checked against the official sources below on .
On the exam
Exam trap
Tested in
Financing & Settlement (7 of 80 National)
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Try 5 free questionsThis definition is Texas real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.