In property ownership, what does a mortgage typically require from the borrower?

A mortgage typically requires the borrower to make regular monthly payments until the loan is fully paid off. This structure allows the lender to receive compensation over time for the loan amount provided, along with interest, effectively spreading the cost of the property over many years. Monthly payments help in managing cash flow for borrowers, making homeownership more accessible by allowing them to pay for the property in installments rather than in a single lump sum.

In contrast, the other options outline scenarios that do not align with standard mortgage agreements. For instance, paying only when selling the property does not accommodate the lender's financial risk during the time the borrower occupies the property. An upfront payment equivalent to half the mortgage is excessively high and impractical for most borrowers, who typically make a smaller down payment relative to the total loan amount. Lastly, having no payments for the first year fails to establish a structured repayment plan and would likely pose significant risk to the lender, contradicting the typical terms associated with a mortgage.