What is mortgage?

Question

What is mortgage?

Accepted Answer

A mortgage is a loan used to purchase a property, where the property itself serves as collateral for the loan.

A mortgage is a type of loan specifically used for buying real estate.
The property being purchased is used as collateral to secure the loan.
The borrower makes regular payments to the lender over a specified period of time.
If the borrower fails to make payments, the lender can foreclose on the property.
Mortgages can have fixed or adjustable interest rates.
Common types of mortgages include conventional, FHA, and VA loans.

Accepted Answer

A mortgage is a type of loan which is used to finance property. A mortgage is a type of loan, but not all loans are mortgages

Accepted Answer

US Mortgage

Accepted Answer

Mortgage is loan used to purchase a home

Top HR questions asked in Firstsource Solutions US Mortgage