Common Types of Home Loans There are essentially two ways of buying a house. You either pay cash or you get a home loan. Given the high cost of housing these days, especially in some major cities, few people have a spare few hundred thousand or so hanging around in their bank account. So for the vast majority of people the loan is the usual method to finance a house. There are various types of lending but the most common is called a mortgage. A mortgage is a loan which is secured on the Continue Reading ...
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Concept of a mortgage
The Basic Idea of Mortgage If you're unaccustomed to borrowing and are simply longing for your first home, then you are most likely not sure about how mortgages work, and what the various kinds of mortgages are. If you're looking to get a mortgage, then you would like to understand the basics of mortgages as well as the choices available in the industry. Here are few helpful recommendations on the fundamentals of mortgage lending. What is a mortgage? A mortgage is simply a loan Continue Reading ...
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Comparing Mortgages A mortgage is just a loan that different lending institutions are willing to issue to those that have the resources to qualify, in order to help them purchase a house. As housing and financial markets have developed over the years, the number of loans available has grown massively so that there are hundreds of different loans that a person could borrow. These variations include the rate of interest, whether the rate is fixed, the length of the fix, interest-only and many Continue Reading ...