Why do people take out mortgages?

A mortgage loan means that you take money from the bank with interest (a loan), and the guarantee that you will get the money back is a pledge of your real estate: a house, an apartment, a plot of land. A mortgage is usually thought of as a home equity loan. Where do people take out mortgages and why?

People take a mortgage with Money Expert because they do not see any "trick" in the current scheme. It really is absolutely transparent. Before signing an agreement, a person carefully reads the payment schedule and the terms of payments.
He assesses all possible risks and consequences. It is not necessary to buy the "royal mansion" at once. You can choose a more modest size. Later you can sell the apartment and buy a roomier one. Investment in square meters has always paid off. Such a trend will be present in the future.

The difference between a loan and a mortgage A mortgage is a loan. The difference is that a mortgage is strictly a special-purpose loan for the purchase of housing. In this case, the property itself acts as collateral under the loan agreement and is encumbered by the bank until the end of payments.