Mortgage
DEFINITION
A mortgage is a loan used to buy or keep a home, land, or other real estate. The borrower agrees to repay the lender over time through regular payments that usually include both the borrowed amount and interest.
ELI5
It is a home loan. The bank gives money to help buy a property, and you pay it back bit by bit with interest.
Other related terms
Irrevocable Trust
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HDB Flat
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Hybrid Funds
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Buyer's Stamp Duty (BSD)
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