What Is a Mortgage?
Updated 21 days ago (March 6, 2026)
A mortgage is a loan that is secured by a real estate property, typically a house. A mortgage loan is used to finance the purchase of the mortgaged property itself. In other words, you can apply for a mortgage when you want to purchase a house but cannot afford the purchase price.
Home buyers will borrow money from a lender, typically a bank, to purchase the property and repay the loan with interest in installments over a predetermined period of time.
Financial Disclaimer: Tellus provides this content for informational purposes only. This is not financial advice. Financial returns and mortgage terms vary based on individual circumstances and market conditions. Consult a qualified financial advisor before making financial or borrowing decisions.