Master mortgage basics for smarter home buying decisions

Unlock the secrets to making smarter home buying decisions by mastering mortgage basics and explore a world of options to find the best fit for your financial future.

Understanding Mortgage Basics

Buying a home is one of the most significant financial decisions you'll make, and understanding mortgage basics is crucial to navigating this complex process. A mortgage is essentially a loan used to purchase real estate, with the property itself serving as collateral. Most mortgages are repaid over a fixed term, typically 15 or 30 years, with interest accruing on the outstanding balance.