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If you’re thinking about buying a house or condo, you need to know what mortgages are. Without understanding how mortgages work, you’ll never how much you can afford to spend on your next home. [...]

A mortgage is a loan you can take out to pay for your house or condo. A mortgage typically pays for 80% of the cost of your new home, requiring you to make a down-payment of at least 20%. This [...]