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What Is A Mortgage?

A Mortgage is money that you borrow from a bank or financial lending institution to buy a house with the promise to pay the money back with interest on the amount borrowed.

There are several factors that can affect the kind of mortgage you are able to get, such as credit score, income, whether or not you are a first-time homebuyer, and how much money you put down.

A mortgage is a large financial responsibility and an investment. Successfully obtaining and maintaining a mortgage is not for everyone. To get a better idea of whether or not you can afford a mortgage, click here for a handy mortgage affordability calculator.  

Once you have decided if a mortgage is right for you, there are several steps that you will need to take in order to obtain and then maintain a mortgage. For more information about obtaining and maintaining a mortgage, click here.


For more helpful Mortgage information, please see the links below:


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