The terms “mortgage” and “home loans” can be used interchangeably. These terms refer to a type of loan used to buy a house and/or property. It’s a legal agreement in which a financial institution lends money in exchange for holding the title of the borrower’s property. The title is release when the loan is paid in full.

There are different kinds of mortgages and home loans. Knowing the differences between them can help you decide which one’s best for you. For more information on mortgages, visit our Home loan page.