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A mortgage loan has three key variables: Loan amount, the size of the loan, or how much you borrow; loan term, the amount of time you have to pay off your mortgage balance; and interest rate, the percentage of the loan amount paid to the lender to borrow the money over the life of the loan.
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A bridge loan is a short-term loan that helps transition a borrower from their current home to the new move-up home. Most people cannot afford two mortgages at.