Whats is Mortgage explain ?

Question

Accepted Answer

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

Mortgages are typically long-term loans, with repayment periods ranging from 15 to 30 years.
Interest rates on mortgages can be fixed or adjustable, and are based on factors such as credit score and down payment.
If the borrower fails to make payments on the mortgage, the lender can foreclose on the property and sell it to recoup their losses.
Mortgages can be obtained from banks, credit unions, and other financial institutions.
Examples of mortgages include conventional mortgages, FHA loans, and VA loans.

Accepted Answer

Pledging a property to get a loan in return as mortgage 🫴

Accepted Answer

Mortgage is a written document through which the property is pledged as a security for the repayment of a loans

# Mortgager 
#Mortgagee

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