what is mortagge

Question

what is mortagge

Accepted Answer

A mortgage is a loan used to purchase real estate, with the property serving as collateral for the loan.

Mortgages are typically long-term loans, often lasting 15-30 years.
The borrower makes monthly payments to the lender, which include both principal and interest.
If the borrower fails to make payments, the lender can foreclose on the property.
Interest rates on mortgages can be fixed or adjustable.
Common types of mortgages include conventional, FHA, and VA loans.

Accepted Answer

A mortgage is a loan used to purchase real estate, with the property serving as collateral for the loan.
Mortgages are typically long-term loans, often lasting 15-30 years.

The borrower makes monthly payments to the lender, which include both principal and interest.

If the borrower fails to make payments, the lender can foreclose on the property.

Interest rates on mortgages can be fixed or adjustable.

Common types of mortgages include conventional, FHA, and VA loans.

Accepted Answer

A mortgage is a loan used to purchase real estate, with the property serving as collateral for the loan.
Mortgages are typically long-term loans, often lasting 15-30 years.

The borrower makes monthly payments to the lender, which include both principal and interest.

If the borrower fails to make payments, the lender can foreclose on the property.

Interest rates on mortgages can be fixed or adjustable.

Common types of mortgages include conventional, FHA, and VA loans.

what is mortagge

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