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A mortgage is a loan that is used to finance the purchase of real property. Mortgages have certain benefits over some other types of loans, including:
The interest may be tax deductible
As it is a secured loan, the interest rate is generally lower than many other types of loans
The underlying asset may increase in value over the long term rather than decrease in value
How to Save on a Mortgage Loan
One easy way to save money on a mortgage is to obtain quotes from many different lenders. Not all mortgage providers offer the same rates, and obtaining a lower interest rate on your mortgage loan can save you tens of thousands of dollars over the life of a mortgage. Here are a few places where you can get multiple quotes in just minutes:
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