A home loan is a type of loan of the secured variety people can lend to allow them afford a property. loan secured against something of high value are borrowed notes that are locked against something of really high price - for example - a residence.
As a big loan is a type of amount of money, it must be paid back. Repayments will usually take place on a monthly basis, and will keep on until the home loan - with interest has been repaid.
secured mortgage can alter in height, it all depends on the costof the home. For example, someone may have a down payment of £20,000, and the residence is worth £120,000 - this means they will have to have a home loan of £100,000 to have enough money for the property.
Friday 8 January 2010
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