A mortgage loan is a credit granted under the condition of mortgaging one or more real estate properties constituting the borrower's assets. The mortgage can be taken out on the property for which the credit is requested, but also on a property independent of the credit request. In the event of non-repayment of the credit, the bank has the possibility to seize and sell the mortgaged property. The mortgage credit works like a conventional loan. Its terms, duration, and amount are therefore established. The terms of the mortgage credit are similar to those of a conventional loan. It is therefore possible to repay the credit early, to adjust monthly payments, but the mortgage loan rate can also be variable or fixed. In the event of the sale of the mortgaged property, the credit can be paid off early, but it is also possible to take out a substitute mortgage on another property.
