Mission Fed Credit Union
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24th August 2022
Mission Fed Home Loan Guide | , San Diego
The first step to getting a home loan is learning the basics, which includes understanding important terms and knowing your home loan options. The following are important terms to know:
Mortgage: This is another word for a home loan, a legal agreement in which a person borrows money to buy property (such as a house) and pays back the money over a period of years. The house you buy acts as collateral in exchange for the money you are borrowing.
Interest: Interest is the price you pay, computed