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Glossary

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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