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Boise Real Estate:101 ~ What Is A Mortgage?

Posted By Phil Hoover On November 25, 2011 @ 8:00 am In Inside Real Estate | No Comments

A mortgage is a loan secured by real property.

The key elements of a mortgage are:

  • The amount borrowed.
  • The interest rate.
  • The term (length of the loan).
  • The payment.

Mortgages are secured, in most states, by a Deed of Trust (which will be explained in a future post).

 

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