Mortgage Loans: Definition, Process, Types, Benefits, and Precautions
Mortgage Loans: Definition, Process, Types, Benefits, and Precautions1. What is a Mortgage Loan?A mortgage loan is a financial product where a borrower uses their property, such as a house or apartment, as collateral to secure a loan from a financial institution. Because the loan is backed by collateral, it typically offers lower interest rates compared to unsecured loans. Mortgage loans are wid..
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