Mortgage Loan

Definition of "Mortgage loan"

Robert Winterbottom real estate agent
Robert Winterbottom Better homes and Garden Homecity Real Estate

Same as term mortgage: A lien that makes property security for the repayment of debt. Mortgages can finance the acquisition of real estate such as a home. A mortgage has certain benefits compared to other debt instruments such as possibly lower interest rates, less financing restrictions, and long maturity period.

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