What is a mortgage payment. A mortgage payment is made by a borrower to a lender that has provided a loan used to finance a real estate purchase.
This payment typically includes both principal and interest, and it's made until the original loan has been fully repaid. Mortgage payments are typically made on a monthly basis, and these loans usually come with 15- or 30 -year terms. What is a mortgage loan. A mortgage loan is used to finance a real estate purchase.
The lender provides the borrower with the funds needed to complete the property purchase. The borrower agrees to fully repay the loan with regular payments that cover principal and interest, spread out over a personal loan annual interest rate number of years.
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