What is a mortgae
According to Wikipedia:
A mortgage loan is a loan secured by real property through the use of a document which evidences the existence of the loan and the encumbranceof that realty through the granting of a mortgae which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgae loan.
A home buyer or builder can obtain financing (a loan) either to purchase or secure against [...]