understanding mortgage: Understanding Mortgage
- 03/25/20 03:10 PM
What is mortgage? A mortgage is a loan bank or mortgage lender that helps you finance the purchase of a house. It is most advantageous to borrow approximately 80% of the value of the house or less. The house you buy acts as collateral in exchange for the money you are borrowing to finance the mortgage for a house. A mortgage payment is composed of four parts: principal, interest, taxes and insurance. It is normally paid on a monthly basis.
PRINCIPAL
Principal is the total amount of money you borrowed to buy the home, for example if you have a $400,000 … (0 comments)
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What is mortgage? A mortgage is a loan bank or mortgage lender that helps you finance the purchase of a house. It is most advantageous to borrow approximately 80% of the value of the house or less. The house you buy acts as collateral in exchange for the money you are borrowing to finance the mortgage for a house. A mortgage payment is composed of four parts: principal, interest, taxes and insurance. It is normally paid on a monthly basis. 
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