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A mortgage is a loan used to buy a home. The borrower repays the loan in monthly payments that include principal and interest. Over time, these payments reduce the loan balance and build equity in the home.
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Intro: How Mortgages Work
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Fixed Rate Mortgages
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Adjustable Rate Mortgages
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Subrime Mortgages
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Construction Mortgages
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Jumbo Mortgages
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Two Steps Mortgages
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Assumable Mortgages
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Balloon Mortgages
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Conclusion : How Mortgage Works