Home Purchase Mortgage

A mortgage is a loan you get from a lender to finance a home purchase. When you take out a mortgage, you promise to repay the money you’ve borrowed at an agreed-upon interest rate.

A mortgage is likely to be the largest, longest-term loan you’ll ever take out to buy the biggest asset you’ll ever own — your home. The more you understand how a mortgage works, the better equipped you should be to select the mortgage that’s right for you.