Monday, March 2, 2026
What Is A Mortgage?
A mortgage is a type of loan you use to buy property, such as a home.
A financial institution or “lender” will give you money and they will require you to use the home as collateral. This is called a secured loan.
Typically, a lender will give you a set amount of money based on the value of the home you want to buy or own. You agree to make payments over an agreed-upon period until the loan is repaid in full.
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