Mastering Mortgage Basics: 10 Key Concepts Every Homebuyer Should Know
Redfin
JULY 11, 2023
A mortgage is a loan specifically designed for purchasing a property, commonly a home. You then make monthly payments, including principal and interest, over an agreed-upon term (usually 15 to 30 years) until the loan is fully repaid. What is a mortgage? How does a mortgage work?
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