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of payments. mortgage a loan used to buy real estate . a mortgage is secured by the property it is used to purchase. one must make monthly payments on a mortgage, and there is a set term before full payment is due, often , , or years. some mortgages have fixed interest rates , while others have variable
more precisely a mortgage loan, is a long-term loan used to finance the purchase of real estate. as the borrower, or mortgager, you repay the lender, or mortgagee, the loan principal plus interest, gradually building your equity in the property. the interest may be calculated at either a fixed or variable...
https://financial-dictionary.thefreedictionary.com/mortgage