Buying A House Mortgage ◆

Not all mortgages are built the same. The two most common paths are:

Your monthly check to the bank isn't just paying back the house price. It’s usually a bundle called : Principal: The actual balance of the loan. Interest: What the bank charges you to borrow the money. Taxes: Property taxes collected by your local government. Insurance: Homeowners insurance to protect the asset. 4. Getting Pre-Approved buying a house mortgage