Understanding Mortgage Terms for Home Buyers
Realty Biz
AUGUST 12, 2023
Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. In a mortgage agreement, the buyer borrows money from the lender (usually a bank) and agrees to pay it back with interest over a specified period. Closing Costs : Fees and other costs that need to be paid when closing on a house.
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