What is Mortgage Loan? How Is It Different from Home Loan? Details Here

Home loan borrowers while searching for loans come across a term most often — ‘mortgage loan’. Loan Amount: Mortgage loans can be availed up to 60-70 per cent of the property’s market value, while home loan can be availed by up to 90 per cent of the property’s market value. Mortgage loans can be availed up to 60-70 per cent of the property’s market value, while home loan can be availed by up to 90 per cent of the property’s market value. Repayment Tenure: Mortgage loan offers a longer duration when compared to home loans. The repayment tenure of a mortgage loan can be up to 30 years, while home loans generally come with a repayment tenure of up to 15 years.