Description: A loan is borrowed money to be repaid with interest, while a mortgage is a specific type of secured loan for real estate (like a house), using the property itself as collateral, giving the lender rights to seize it if you default. Mortgages offer large sums for property, have long repayment terms (10-30+ years), and feature fixed or adjustable rates, with payments covering principal and interest, making them ideal for homeownership or borrowing against property value.
Provide By: Vraj Consultancy
City : N/A
Contact : 8141037839
Categories: Finance & Banking, Loan & Mortgages
