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Monday, July 5, 2021

Mortgage loan

A
mortgage loan or simply mortgage is a loan used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.

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Types of mortgage loans

Fixed-rate mortgage: The interest rate remains constant throughout the life of the loan, providing predictable monthly payments. Adjustable...