Introduction to Mortgages
Mortgages are one of the most popular types of loans used to finance the purchase of a home. A mortgage is a loan that is secured by a piece of real estate, such as a house. The borrower makes monthly payments to the lender, and the loan is typically paid off over a period of 15 or 30 years.
There are many different types of mortgages available, and choosing the right one can be confusing. The most important factor in deciding which type of mortgage is best for you is your financial situation. Other factors to consider include the type of property you are buying, the amount of money you need to borrow, and the length of time you plan to stay in your home.
Here is an overview of some of the most common types of…
