Understanding Home Mortgages: A 2023 Comprehensive Guide

What Is a Home Mortgage? A home mortgage is a loan provided by banks, mortgage companies, or financial institutions to purchase residential properties, including primary residences, secondary homes, or investment properties, as opposed to commercial or industrial real estate. In these agreements, the borrower (property owner) temporarily transfers the property's title to the lender, which reverts back once the loan is fully paid and all terms are met.