A mortgage is an agreement that allows a borrower to use property as collateral to secure a loan.
The terms “mortgage” and "home loan" are often used interchangeably. Technically, a mortgage is the agreement that makes your home loan possible — not the loan itself.
Real estate is expensive. Most people don’t have enough cash in savings to buy a home, so they make a down payment of 20 percent or so and borrow the rest.
Borrowers also get some benefit out of this arrangement. By helping the lender reduce risk, the borrower pays a lower interest rate. Mortgages are often used by consumers (individuals and families), but businesses and other organizations can also purchase property with a mortgage.
We also deal in Fixed-rate mortgages & Adjustable-rate mortgages
Fixed-rate loans are so simple that you can calculate mortgage payments and the payoff process by yourself (spreadsheets and online templates make it easier).
Adjustable rate mortgages are similar to standard loans, but the interest rate can change at some point in the future.