The borrowers use to secure a mortgage loan through house, land, and vehicle.
A mortgage is an agreement between you and the lender that gives the lender the right to acquire your property if you do not repay the borrowed money and interest. Mortgages are used to buy a home or borrow money for the value of a home you already own. 7 things to look for in a mortgage.
The term "loan" can be used to describe a financial transaction in which one party receives a lump sum and agrees to repay the money. A mortgage is a type of loan used to finance real estate. Mortgages are a type of loan, but not all loans are mortgages. Mortgages are "secured" loans.
