Loan versus Mortgage comparison chart
Edit this comparison chartLoanMortgage
About Relationship between lender and borrower. Lender is also called a creditor and the borrower is a debtor. Money lent and received in this transaction is known as a loan: the creditor has "loaned out" money, while the borrower has "taken out" a loan. Mortgages are secured loans that are specifically tied to real estate property, such as land or a house. The property is owned by the borrower in exchange for money that is paid in installments over time.
Types Open-end and closed-end loans, unsecured and secured loans, student loans, mortgage loans, payday loans. Fixed-rate mortgages, FHA mortgage loans, adjustable rate mortgages, VA loan mortgages, interest-only mortgages, reverse mortgages.