Definition: The term "region mortgage rates" refers to a system in which residential mortgages are made available only to borrowers who have active accounts with one or more regional banks, often in regions with large populations. These regional banks typically offer certain types of loans that allow for higher interest rates and longer-term repayment terms than regular mortgages. This can help make it easier for borrowers in those areas to secure a mortgage. The term "region mortgage rates" is also used to describe the way some regions may have their own separate marketplaces or sub-prime markets where residents can purchase real estate with little credit score requirements, allowing them to acquire properties without the need for home loans.
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