Mortgage Loans

Mortgage loans are a type of loan that individuals or businesses can obtain from a financial institution, such as a bank, to purchase real estate or property.

These loans are secured by the property being purchased, meaning that if the borrower fails to repay the loan, the lender can foreclose on the property and sell it to recover their investment.

Mortgage loans usually have a long repayment period, often spanning several decades, and come with an interest rate that can be either fixed or adjustable. The monthly payments made by the borrower typically include both principal and interest.