Houses are expensive, and most people do not have $200,000 in cash, which is about the median value of homes in the United States. There are many banks that will finance a house, and government backed programs that allow for low down payments to encourage home ownership. When you borrow money for a house, you are most likely using a mortgage. A mortgage is a loan that can be paid off over varying amounts of time. The most common mortgage has a 30 year term, meaning if a homeowner paid the minimum payments, they would pay off the loan in
from Invest Four More http://ift.tt/2ftJc5e
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