Mortgage Basics : Home Loan

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While buying home can give you a great place to live and a way to build wealth, all of these hopes, dreams and financial benefits come with a cost. For most people, the bulk of that cost is wrapped up in a mortgage.

At its most basic, a mortgage is a loan used to purchase a house. This definition is simple enough to capture the essence of the issue, but it barely scratches the surface of the complex issues that underlie this topic.