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How does a mortgage work?



Our response:

A mortgage is a loan used to buy property and is calculated using three main factors, how much you borrow (the principal), the interest rate on the loan, and the how long you take to pay it back (the amortization period).

As you move forward with choosing a mortgage, it may be helpful to learn about what lenders look at when getting a mortgage approved, how to cut your mortgage costs, and what it looks like to invest in real estate.

Speak with a registered financial representative or mortgage broker for further advice.

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