A mortgage loan is when a bank lends you money to buy a house, you promise to pay it back in regular payments. The house purchased is used as collateral.
Related Fool Articles
Related Community Blogs
Recent Mentions on Fool.com
- 4 Obstacles That Keep Millennials From Buying Their First Homes
- 2 Things That Still Can Lead to the American Dream
- Could You Handle a Financial Emergency?
- Tax Credits vs. Tax Deductions: The Differences and the Essentials
- How to Go Broke in Real Estate, Pick Yourself Up, and Try Again
- 6 Steps to Restart the Refinancing Process