What Is a Mortgage?

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It’s a common saying that buying a home may be one of the biggest — if not the biggest — financial decisions you’ll make in your lifetime. It’s potentially one of the biggest investments you’ll make, too, which is why it’s important to understand some of the key financial aspects involved in the purchase and ownership of a home.

If you dream of someday owning your own home, taking out a mortgage will likely be a key element of your purchasing journey. If you're not yet familiar with mortgages and all they entail, learn all you need to know about the basics, from what exactly mortgages are to what the different types look like.