What is Mortgage
"A mortgage is a financial arrangement in which a lender provides funds to a borrower to purchase real estate, such as a home or property. The borrower then repays the loan over time, typically through monthly payments that include both principal (the amount borrowed) and interest (the cost of borrowing). Mortgages are secured loans, meaning the property being purchased serves as collateral. If the borrower fails to make payments, the lender can take possession of the property through a process called foreclosure. Mortgages can vary in terms of interest rates, repayment periods, and other terms depending on the specific loan agreement and the borrower's financial situation." A mortgage is a type of loan that is used to finance the purchase of a home or other real estate property. The borrower (the person buying the property) agrees to make regular payments to the lender (such as a bank or financial institution) over a set period of time, typically 15 to 30 years. The mort...