Mastering Mortgage Basics: 10 Key Concepts Every Homebuyer Should Know
Redfin
JULY 11, 2023
Essentially, a mortgage enables individuals to become homeowners by providing the necessary funds upfront, with the property serving as security for the loan. 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.
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