1. Different concepts
In fact, mortgage loan means that consumers use their pre-purchased houses as collateral and then get loans from banks. Then you only need to repay the bank in installments according to the repayment method and time limit agreed in the mortgage contract, and the general bank will charge interest at the interest rate. Besides, if the lender defaults, the bank has the right to confiscate the house.
Loan means that when a person with civil capacity buys the house he lives in, he can apply for a loan from the bank by using the guarantee method recognized by the bank or the property house he has purchased.
2. Different repayment methods
In fact, a loan means that the buyer borrows money from the bank. Usually you use the house you bought as collateral and then sign a business contract with the bank. In fact, that is to say, the ownership of the house is not yours before your loan is paid off. If you default, the bank has the right to dispose of your house.
Mortgage is paid by installment, and buyers can obtain the ownership of the house by installment. As long as you pay in full by installment, the house is yours.
3. Different treatment methods
Commercial loans are very similar to mortgage loans, except that loans are made by housing ownership certificates and land use certificates.
Mortgage in the case that the property buyer has not obtained the property right certificate. Generally, the applicant should first apply for other property certificates as collateral, and the property rights will be transferred to the mortgagor by the real estate development unit after paying the purchase price. At this time, other property certificates can be owned by the mortgagor.
Editor's summary: The above introduces the difference between mortgage and loan, hoping to give you some help!