Mortgage 101: Part One
Posted by Greg Dewar on
If you’re new to the home buying process, mortgages might seem a little complicated and overwhelming to you. Luckily, in today’s blog post I’m breaking down exactly what a mortgage is and the most important things you need to know about them.
What exactly is a mortgage?
A mortgage is a loan that is secured by property (the home you’re planning to purchase) and paid for over a set amount of time in installments.
How do I get a mortgage?
To get a mortgage, you will need to meet a variety of criteria set out by a lender. This will include things like credit history, income and assets. A mortgage lender can be a broker, a bank or credit union.
How big of a mortgage can I get?
The amount of your mortgage depends on your income. The more money you…
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