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Acronym Monday: MA

Mortgage Amount

This is often referred to as the principal; the initial sum of money you borrow from a lender to buy a home.

Choosing the right mortgage amount is crucial, as it determines your monthly payments and the total interest you'll pay over the life of the loan.

Remember, your mortgage amount will not cover the full purchase price of the home.

You will have to put money in as a down payment so make sure to work with a mortgage professional to determine what you're comfortable paying.


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