What is a mortgage? A mortgage is a loan specifically for buying property. It’s your key to home ownership. The loan has two parts: the principal, the amount you borrow, and the interest, a percentage you pay for using the lender’s money. Mortgages come in various forms, including: Read Also: Feb Love: Homes To Cherish, NewContinue reading “What Is A Mortgage”
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What Is A Mortgage
Generally speaking, a mortgage is a loan to purchase real estate. The mortgage itself is a lien, a legal claim on the home or property that secures the promise to pay the debt. All mortgages have two features in common: principal and interest. Read Also: What Is A Balloon Mortgage The principal is the amount you’reContinue reading “What Is A Mortgage”
