If you're asking, "What's a mortgage?" you might be trying to buy a house or trying to figure out how to do a refinance.
Understanding what mortgages are and how they work can be helpful throughout your life. Continue reading this article to learn what mortgages are and how they work.
When you take on a mortgage, you're getting a loan from a bank or private lender. Both businesses and individuals can get mortgages to purchase property, and there are different types of mortgages from traditional mortgages to cash out refinance mortgages.
Like many other loans, mortgages require that you pay monthly payments until you pay them off. Depending on how high your credit score is, you may be able to get a very attractive…