{"id":369318,"date":"2016-04-04T10:47:23","date_gmt":"2016-04-04T15:47:23","guid":{"rendered":"https:\/\/ability-fl-prod.internetbrands.com\/ability-law\/realestate\/mortgages-equity-loans\/mortgage-basics.html"},"modified":"2024-05-22T08:27:38","modified_gmt":"2024-05-22T13:27:38","slug":"mortgage-basics","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/realestate\/mortgages-equity-loans\/mortgage-basics.html","title":{"rendered":"Mortgage Basics"},"content":{"rendered":"\n
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Mortgage Basics<\/h1>\n
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\n By Robert Rafii, Esq.<\/a> | Legally reviewed by FindLaw Staff<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

A mortgage is a transfer of an interest in real estate as security for the repayment of a loan. It allows a buyer to finance the purchase of their home through a repayment period of time. A typical mortgage transaction involves:<\/p>\r\n