Tue, 15 Jul 2025

Tue, 15 Jul 2025 Business Daily

How mortgages are handled in the US and Europe - where home financing is common

* Home loans typically last 15-30 years
* Interest rates can be fixed or variable
* Borrowers often make monthly payments including interest and principal
* Down payments usually range from 3-20% of the property's value
* Credit checks are common in US mortgage applications European Mortgages:
* Loan terms can vary, but often last 10-30 years
* Interest rates are typically fixed or variable
* Lenders may require a higher down payment (up to 40%)
* Income and credit history are key factors in European mortgage approvals
* Some countries have stricter regulations on mortgage lending
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