What is a mortgage agreement and how does it affect my home loan?
The mortgage agreement is one of two documents required in order to receive the zero-interest loan component of the program funding. The other document is the promissory note which is the actual loan contract. The mortgage agreement is strictly a method of securing the zero-interest loan. It is an agreement that establishes IRWP as a lien holder on the property for the amount of the loan contracted in the promissory note. It is similar to the mortgage agreement on a home loan (often called a "mortgage loan" which can cause some confusion) in that it is an agreement to use the property as colateral to secure the loan, but it does not affect the agreement with your primary lender in any way.
Another common question is, "what happens to the mortgage agreement and loan contract when the home is sold?" Most commonly, the mortgage agreement will be retired when the loan is paid off using proceeds from the sale. This is the same way the mortgage is typically retired on your home from your primary lender. There are other legal arrangements regarding transfer of security instruments to new owners, but retiring existing debt and liens is the most common.