Overview
A mortgage loan is a type of loan that is secured by real estate or property. It is commonly used by individuals or businesses to purchase a home or commercial property.
Mortgage loans are a significant financial commitment, and it is crucial to research and compare different lenders, their interest rates, fees, and repayment terms before selecting the most suitable mortgage loan option.
The property being financed serves as collateral for the loan, which means that if the borrower fails to repay the loan, the lender has the right to seize the property and sell it to recover the outstanding balance.