Definition: The "mortgage" word is used in the context of real estate financing, specifically for loans made to pay back a mortgage loan amount over a certain period of time. A mortgage is essentially a debt obligation between a borrower and an lender (bank or other financial institution). The term "mortgage" refers to the total amount of money borrowed from a lender through this type of borrowing. This amount can include both principal and interest, as well as any fees associated with the loan. The term "600,000" refers to the total value of the mortgage. In the context of real estate financing, a mortgage typically involves purchasing a property, such as a house or an apartment, and borrowing the funds necessary to make principal and interest payments over a period of time. This is often done through a lender who provides the loan to the borrower with the intention of generating income from the property. The borrower will then pay back the loan amount on their own at the end of the agreed-upon period.
closed bracket.
what should be said.