- Trending Categories
Data Structure
Networking
RDBMS
Operating System
Java
iOS
HTML
CSS
Android
Python
C Programming
C++
C#
MongoDB
MySQL
Javascript
PHP
Physics
Chemistry
Biology
Mathematics
English
Economics
Psychology
Social Studies
Fashion Studies
Legal Studies
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
Write the difference between loan and mortgage.
The major differences between loan and mortgage are as follows −
Loan
It has high interest rates.
It can be secured/unsecured.
It is not collaterally backed.
The loan period is less as compared to mortgage.
There are few formalities in case of unsecured loans when compared to mortgage.
It requires less documentation.
Examples − open ended loans, close ended loans, student loans, payday loans etc.
Mortgage
It has low interest rates.
It is always secured.
It can be backed collaterally.
The loan is period is more as compared to loan.
There are strict measures for loans in mortgage.
It requires more documentation.
Examples − VA Loan mortgage, reverse mortgage, adjustable rate mortgage, fixed rate mortgage etc.
- Related Articles
- What is the difference between a Secured Loan and Unsecured Loan given by Banks?
- Write the difference between dividend and growth.
- Write the difference between securitization and factoring.
- Write the difference between debentures and bonds.
- Write the difference between leasing and financing.
- Write the difference between tax and duty.
- Write the difference between duty and tariff.
- Write the difference between shareholder and stakeholder.
- Write the difference between investment and speculations.
- Write the difference between licensing and franchising.
- Write the difference between rancidity and calcination.
- Write the difference between weaving and knitting.
- Write the difference between weight and mass.
- Write the difference between ‘$g$’ and ‘$G$’.
- Write the difference between frequency and pitch?

Advertisements