વર્ણન: A loan is a sum of money borrowed from a lender and repaid with interest over an agreed-upon time, while a mortgage is a specific type of loan secured by real estate, meaning the property acts as collateral and can be seized by the lender if the borrower defaults. A mortgage enables the purchase of property without paying the full amount upfront, and the property's ownership only transfers fully to the borrower after the loan is completely repaid.
દ્વારા પ્રદાન કરેલ: AARYA FINANCIAL SERVICES
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શ્રેણીઓ: Finance & Banking, Loan & Mortgages
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