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E Q U I F A X

Mortgages

Mortgages

Government-backed Mortgages

A mortgage is a financial arrangement that allows an individual or business to purchase real estate by borrowing money from a lender, typically a bank or mortgage company. This type of loan is secured by the property being purchased, which serves as collateral for the loan. Mortgages are a common way for people to achieve homeownership without having to pay the full purchase price upfront. Key points about mortgages include:

  • Long Term
  • Interest Rates
  • Down Payments
  • Private Mortgage Insurance (PMI)
  • Amortization
  • Repayment
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