What does this sentence mean?

Hi,

What does this sentence mean?


A 90% mortgage is one in which the buyer of a house is lent 90% of its cost.


Thanks a lot

It means that if I want to buy a $100,000 home, that a 90% loan will be where I pay $10,000 and the bank loans me 90,000.

Thanks a lot

What does the "its" stand for in this sentence?

Does it mean "house"?

Help, please.

Quote:

---

Originally Posted by Silverobama

What does the "its" stand for in this sentence?

Does it mean "house"?

---

What else could it possibly stand for?

Silver, note that 90% mortgage would have been a better title for your thread.

Rover