A mortgage is a loan offered by a lender so that a borrower can purchase a home. Monthly mortgage payments consist of the principal amount which goes towards the equity, the interest rate, insurance, and taxes. The home is also listed as collateral.
A mortgage is a loan offered by a lender so that a borrower can purchase a home. Monthly mortgage payments consist of the principal amount which goes towards the equity, the interest rate, insurance, and taxes. The home is also listed as collateral.