Video: Kids explain all about mortgages

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

“A mortgage, you have to borrow some money from the bank.”

“To buy a house!”

“Mortgage is money that you borrow from the bank that helps you pay for your house.”

“… Or if you want to buy some land.”

“A bank is like a library. In the library you can borrow books and in a bank you can borrow money.”

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