It’s a good question.

FIRST: “Mortgage Note” and “Real Estate Note” are the same. Different words that refer to the same document.

A mortgage “note” is a loan with a piece of real estate as collateral. It’s the document that details the terms of a loan.

Let’s say you purchase a home—a place where you and your favorite housemate, Butch, can live comfortably. Good times. If you borrow money from a bank or private lender, you’ll have to sign a bunch of documents at the time of closing. The mortgage Note is the document that details how you’ll repay your loan, how much interest you’ll pay over time, the term of the loan, etc. It’s the legally-binding IOU to the bank/lender.

Interestingly…if you lose your closing papers or they get destroyed, you can obtain a copy of your mortgage note by searching your county’s records or contacting the registry of deeds. Or the company you make mortgage payments to will have a copy.

So that’s it. That’s a mortgage Note.

Learn more about how Notes are valued, sold, and purchased at

Photo by Brina Blum on Unsplash

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