What Is a Mortgage Loan?

Answer

A mortgage loan is money borrowed from lending institutions with the aim of purchasing a property. It is secured by the purchased property which acts as the collateral. In addition, the mortgage terminates after the loan amount and interests are paid in full.
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Mortgage rates for VA
Rate Current Last Week
30yr fixed 4.19% 4.15%
15yr fixed 3.19% 3.11%
5/1 ARM 2.81% 2.75%
Source: www.zillow.com
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