Mortgage financing is a method of borrowing money to purchase a home, where the property itself serves as collateral for the loan. Borrowers typically repay the loan over a set period, usually 15 to 30 years, through monthly payments that include both principal and interest. This allows individuals to buy homes without needing the full purchase price upfront. There are various types of mortgage financing options available, including fixed-rate and adjustable-rate mortgages. Understanding the terms and conditions of these loans is crucial for borrowers to make informed decisions and find the best financing solution for their needs.