Loan vs Mortgage: What’s the Difference?
Many people confuse loans and mortgages, but there’s a key difference.
Loan
- General term for borrowed money
- Can be personal, business, or student loans
Mortgage
- A loan specifically for buying real estate
- Property is used as collateral
- Usually long-term (15–30 years)
Takeaway
Every mortgage is a loan, but not every loan is a mortgage.
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