Is a mortgage considered a loan?

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Pascale Carter asked a question: Is a mortgage considered a loan?
Asked By: Pascale Carter
Date created: Sat, Mar 6, 2021 1:45 AM
Date updated: Mon, Jul 4, 2022 11:56 PM

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A mortgage is a type of loan that's used to finance property. A mortgage is a type of loan, but not all loans are mortgages… With a secured loan, the borrower promises collateral to the lender in the event that they stop making payments. In the case of a mortgage, the collateral is the home.

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