Okay kiddo, have you ever heard of a mortgage? It’s a loan that grown-ups take out when they want to buy a house. Well, an e-mortgage is just like a regular mortgage, but done on the internet!
Just like how you can buy clothes or toys online, grown-ups can now buy their homes online too. They don’t have to go to the bank or the mortgage company in person anymore. They can fill out all the paperwork and sign all the forms from their computer or tablet.
This can make things much easier and faster for grown-ups who want to buy a home. Instead of waiting for a long time to meet with someone and sign papers, they can do it all from the comfort of their own home.
So that’s what an e-mortgage is in a nutshell. It’s just a regular mortgage but done online. Cool, right?