What is Mortgage?

9 · 07 · 19

When something is confusing to you there’s no better way to understand it than by doing research. In other words, if you’re reading this you’ve come to the right place. 

Let’s start this out with the simple questions:

What is Mortgage?

Consulting Google, it reads; “a legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title of the debtor’s property, with the condition that the conveyance of title becomes void upon the payment of the debt.” 

To break that down into a sizable bite: a mortgage is an agreement between a bank or other lender (that lends money at an interest) in exchange for taking control of the person in debt’s property. Under the condition that the control becomes unneeded when the debt is paid off.

Still confusing? Feel free to email our team at any time and we can explain!


How does it work?

Once a loan from a bank is received, they help pay off the home. Basically, a promise is made between the person paying (the one buying the house) and the loaner (bank or other credit unions) that as long as the bank helps pay off the home, the debtor will pay. Once the home is paid off, there will no longer be a dependant.

Basically, a “collateral” is issued. In other words, once the promise is made that both parties will help pay or pay as long as the help is needed: help is issued and the mortgage is made.


Why do I need it:

Mortgage can help pay off a home; houses tend to be a bit pricey and the average citizen is not at fault for not being able to afford them. Mortgage can help as a little buffer so you aren’t spending quite as much all at once.

Be careful of interest though, that can be quite tricky.


Mortgage Rates:

Talking about interest, mortgage rates can be tricky. Because of how interest works, sometimes the payments can become quite pricey. Mortgage Rates are essentially the interest that is taxed onto the mortgage each month. It can, however, be avoided!


Simple Mortgage Calculator:

Visit our easy to use and highly functioning calculator:

Or come in anytime for help. Our address:

1822 Buenaventura Blvd, Suite 104, 96001, Redding CA


Our Goal:

A mortgage doesn’t have to be tricky. It can be difficult to calculate but you never have to do it alone. Our doors are always open, and our phones are always on. 

We want to help anyone and make their mortgage easier to understand, faster to pay and reduce any if not all headaches. 

Address: 1822 Buenaventura Blvd, Suite 104, 96001, Redding CA

Phone: (530)244-0913



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