mortgage finance

Mortgage finance refers to the process of borrowing money to buy a home. A mortgage is a loan provided by a lender, usually a bank, where the property serves as collateral. Homebuyers make regular payments over a set period, often 15 to 30 years, which include both interest and principal. This financing allows individuals to purchase homes without needing to pay the full price upfront. The lender holds the title until the loan is fully repaid. If payments are missed, the lender can foreclose on the property, taking ownership to recoup their investment.