A Mortgage Loan is a type of secured loan where the borrower pledges a property, typically a home or real estate, as collateral to obtain funds from a lender. The loan amount is usually a percentage of the property’s value, and the borrower agrees to repay the loan in installments over a specified period, often ranging from 15 to 30 years. Mortgage loans are commonly used to purchase a home, refinance an existing loan, or fund home improvements. The interest rates can be fixed or variable, and failure to repay the loan as agreed may result in the lender seizing the property through foreclosure. This loan type provides borrowers with access to significant funds while allowing them to retain ownership of the property during the repayment period.