The answer is <u>"b, a type of loan used to buy property".</u>
A mortgage refers to a loan in which property or land is utilized as collateral. The borrower goes into a concurrence with the loan specialist (as a rule a bank) wherein the borrower gets money forthright at that point makes installments over a set time length until the point when he ponies up all required funds. A mortgage is regularly alluded to as home advance when its utilized for the buy of a home.
Mortgage loan advances are generally gone into by home purchasers without enough money close by to buy the home. They are additionally used to obtain money from a bank for different undertakings utilizing their home as security.
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