What Is a Mortgage?

A loan used to purchase real estate

Photo by Tom Rumble on Unsplash

When it is time for you to buy some real estate, you will likely use a mortgage unless you have the cash on standby. A mortgage is a loan used to purchase or maintain real estate. Examples of real estate include a house, condo, and land. The following will walk through the mortgage process, how they work, and the different types of mortgages.