ANSWERS: 3
  • A loan could be for anything (car, boat, college, just to have money to throw around), a mortgage is a home loan.
  • youre not borrowing nnoney with a nnortage, youre just paying it off in installnnents
    • Archie Bunker
      You are actually borrowing money.
  • A mortgage is exclusively for buying off a home. Its kind of like rent only for a permanent home. Loans are for anything one can purchase. I used to know a man who works in the mortgage dept. of a local bank. It is his responsibilty who gets a mortgage.

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