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Difference between revisions of "Renting a Home"
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→Borrowing money to buy a home
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Sometimes a lender will give you a pre-approved mortgage. This is a mortgage amount at an interest rate they guarantee for a period of time, such as for 90 days. | Sometimes a lender will give you a pre-approved mortgage. This is a mortgage amount at an interest rate they guarantee for a period of time, such as for 90 days. | ||
To pay down your mortgage, you make a regular payment, most often monthly. Your monthly payment includes the interest the lender charges you to borrow their money. | To pay down your mortgage, you make a regular payment, most often monthly. Your monthly payment includes the '''interest''' the lender charges you to borrow their money. | ||
===What's involved in buying a home=== | ===What's involved in buying a home=== | ||
