Lesson 2: Understanding & preparing for a mortgage

Most of us will come face-to-face with a mortgage in our lifetimes, and the truth is, most of us will feel unprepared and overwhelmed. Buying a home is already tricky; add complicated terminology and eye-watering interest payments, and you’ve got yourself a seriously stressful situation. Here’s everything you need to know about mortgages.

What Is a Mortgage and How Does It Work?
Does the Price of My Property Make Sense?
What Is a Down Payment and How Does It Work?
How Do Interest Rates Work?
Monthly Payment, Explained
Closing Costs Are How Much?!?
Should I Really Wait 15 to 30 Years to Pay It Back?
Sneaky Costs to Consider
The Art of Negotiation and Why It Matters
Test Your Knowledge
Next Steps