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Buying a house can be expensive, and many people are not able to pay cash to do it. In fact, it is very common for property owners to have a mortgage loan. These loans can be large ones, with the average mortgage balance coming in at $220,380 in 2021, according to data from Experian, a credit reporting agency.
Committing to a mortgage loan totaling hundreds of thousands of dollars can leave you with a large monthly payment and a lot less flexibility with regard to what you can do with your hard-earned money. But there’s one group of people who…
