Hello, is there someone who can help me find the answer to the difference between a loan and a morgage?
I’d also like to know what is the current fixed 1 year interest rate in US?
For a $30,000 loan payable after 12 months in 2 sequences, what should be the best option of interest rate?
Loan can be secured or unsecured meaning if you default on your loan, whether the debtor collect something of value to you.
For mortgage, it is a loan to buy houses. Mortgages are usually secured loans.
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http://www.flixya.com/blog/GOLDCash360/1/Mortgage
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A mortgage is a loan for buying a house
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Loan can be secured or unsecured meaning if you default on your loan, whether the debtor collect something of value to you.
For mortgage, it is a loan to buy houses. Mortgages are usually secured loans.
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http://www.mymonies.info/Loans_and_Credits
As mentioned, a morgage is a special class of loans for a house. You may want to check this yahoo website for your rate determing where in the US you are referring. Hope this helps!
http://realestate.yahoo.com/Florida/Tampa
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A mortgage is secured against property. A mortgage for a house usually runs until your retirement. A loan can be secured or unsecured. It usually has a fairly short lifespan compared to a mortgage.
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