🏦 Common Home Mortgage Terms Explained

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🏦 Common Home Mortgage Terms Explained

These common terms will help simplify getting your home loan and ensure you understand what stage you are at and what comes next. It doesn’t guarantee you a loan or any loan terms. Interest Rate: This is the amount of interest, expressed as a percentage, that you will be paying on your loan. Amortization: Paying off a large loan (mortgage) over a specified period of time. These are some of the most common terms you will hear as you go through the process of obtaining a mortgage.

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