Mortgage is a loan in which real estate is used as collateral. The borrower enters into an agreement with the lender wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. A mortgage is often referred to as home loan when its used for the purchase of a home.
There are many types of mortgages available, including conventional fixed rate mortgages, which are among the most common, balloon mortgages, adjustable rate mortgages, FHA mortgage, VA mortgage. Potential homebuyers should research the right option for their needs.
1. Simple Eligibility Criteria 2. Quick Processing 3. Affordable Mortgage Loan Interest Rates 4. Limited Documents Requirement 5. Flexible Repayment Tenors 6. High Financing