Before choosing a mortgage loan, we recommend that you ask about what a loan entails. Below, you can learn what a mortgage loan is and what other information you should ask for when you go to the bank.

What is a mortgage loan?
A mortgage is a loan to buy a property or land. The credit can be granted for a maximum period of 30 years and can be obtained together with the spouse. 
The specificity of the mortgage loan is that the collateral for the loan is the house or land itself. If you find yourself in a situation where you can no longer pay the installments, the lender has the right to take the land or the house and sell it to recover the money.

Where to get a mortgage loan?
You can apply for a mortgage loan directly from a bank or use a mortgage broker. This is an independent financial advisor who can help you compare several mortgages.

Before you go to the financial institution to apply for a mortgage, it is good to know the following information:

What type of mortgage you want;
What house you want to buy and what the purchase price is;
How much you want to borrow and for how long;
The rate you are willing to pay each month;
What documentation is needed to take out a mortgage.

Buying a home is probably the most expensive purchase of your life. If you are informed, ask questions and pay attention, the process of applying for and obtaining your new home will seem easy.