How a Mortgage Works

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Uploaded by on May 5, 2009

Gets the process across nicely, using visuals

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Howto & Style

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Uploader Comments (nittyjee)

  • @silv3rlogic Well, you could still pay the same amount that you would for renting the place, and own the home. The only thing that prevents that is qualifying for the loan, which, for one, you typically need 20% of the cost as a down payment.

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  • This seems like the exact opposite of compound interest, why would anybody want to pay on a mortgage???

  • Though it is indeed a bit crude, this really is the only place where I have found the process explained

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