A mortgage loan is a type of secured loan where you can avail funds by providing your asset as collateral to the lender. A mortgage is usually a loan sanctioned against an immovable asset like a house or a commercial property. The lender keeps the asset as collateral until the borrower repays the total loan amount.
Buying a home is likely to be the biggest purchase you'll ever make and a mortgage will be your largest debt. Because you can spread the repayments on your home loan over so many years, the amount you'll pay back every month is more manageable, and affordable!
6.50%