Olivia Bennett

A home mortgage loan is a home financing option offered either by a bank, mortgage company or any other financial institution and involves legal agreement wherein a home loan lender (mortgagee) agrees to offer funds to a borrower (mortgagor) to buy a new home (primary residence) or other real estate (investment real estate) in exchange for interest. Home buyer, on the other hand, agrees to repay the funds within a defined time frame for a certain cost.