The correct option is C.over time, usually many years.
What does it mean to take out a mortgage on your house?
The term “mortgage” refers to a loan used to purchase or maintain a home, land, or other types of real estate. The borrower agrees to pay the lender over time, typically in a series of regular payments that are divided into principal and interest. The property serves as collateral to secure the loan.
What is the function of a mortgage?
The primary function of a mortgage is to supply a home buyer with enough money to purchase a home, either by buying an existing house or having a new one built. Mortgages pay the seller or builder directly and set out a timetable for repayment that the borrower can afford.
Who is a mortgage paid to?
Part of each monthly mortgage payment will go toward paying interest to your lender or mortgage investor, while another part goes toward paying down your loan balance.
Learn more about Mortage here https://brainly.com/question/1318711
#SPJ2
