Lien
Lending & MortgagesA legal claim on a property as security for a debt, which must be satisfied before the property can be sold.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding lien helps you see how your monthly payment of approximately $1,896 is structured — and how this concept affects your total cost over the life of the loan. Use our mortgage calculator to see how lien impacts your specific situation.