Real estate loan

A mortgage is a loan granted on the condition of mortgaging one or more properties constituting the borrower’s assets. The mortgage can apply to the property for which the loan is being requested, but also to a property unrelated to the loan application. In the event of non-repayment of the loan, the bank has the option of seizing and selling the mortgaged property. The mortgage works like a traditional loan. Its terms, duration, and amount are therefore fixed. The terms of the mortgage are similar to those of a traditional loan. It is therefore possible to repay the loan early and adjust the monthly payments, but the mortgage rate can also be variable or fixed. If the mortgaged property is sold, the loan can be repaid early, but it is also possible to take out a replacement mortgage on another property.