What is Mortgage? | REAL-ESTATE-SALESPERSON Exam Prep

A mortgage is a loan used to purchase real estate, where the property serves as collateral, typically repaid over 15-30 years with interest. 📚 Learn more about Mortgage and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Mortgage definition: https://www.open-exam-prep.com/glossary/mortgage 💡 Exam Tip: Mortgage = loan for real estate. Property is collateral. PMI required if less than 20% down. --- #real-estate #examprep #financeexam #real-estate-salesperson