06/05/2026
Mortgage Term of the Day:
A mortgage is a loan used to buy a home.
You borrow money from a lender, and in return, you agree to repay it over time—usually with interest. The home serves as collateral for the loan.
🔹 Most mortgages are 15 to 30 years
🔹 Monthly payments include principal, interest, taxes & insurance
🔹 You don’t own the home free and clear until the mortgage is paid off
It’s the key to homeownership for most buyers!
Pam Deslauriers
Montague Miller & Co. Realtors
540-222-3777; [email protected]