Choosing a mortgage that is right for you

Author: External Author | | Categories: Bank Mortgage , Home Renovation Mortgage , Mortgage Broker , Mortgage Industry , Mortgage Pre-Approval , Mortgage Renewal , Reverse Mortgage

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When you buy a home, you may only be able to pay for part of the purchase price. The amount you pay is a down payment. To cover the remaining costs of the home purchase, you may need help from a lender. The loan you get from a lender to help pay for your home is a mortgage. A mortgage is a legal contract between you and your lender. It specifies the details of your loan and it’s secured on a property, like a house or a condo.

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Original Article Source Credits: Canada.ca, https://www.canada.ca/

Article Written By: NA

Original Article Posted on: 22nd January 2021

Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html



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