The great jurist Sir Edward Coke has explained from where the term mortgage comes. It originated from the two Old French words mort which means dead and gage which means pledge.It was named as all on the doubtfullness of the mortgagor.
First of all it is important to understand that a loan against property is different from a mortgage. While a mortgage
is a bank loan taken to buy a property where as loan against property is a loan secured from the bank by putting
up your existing property as a security against the loan.
Mortgage Financing industry, which was earlier known as the housing finance industry in India.Housing loan industry is growing at a fast pace but still it need to have more emphasis.The only fore most organizations which support or provide the customers with home loans are HDFC,LIC,SBI and ICICI.It is believed that commercial banks are set to take the major portion in next years.
In America the two terms related with home loans are very popular and they are JUMBO HOME MORTGAGE AND SUPER HOME LOAN.Now some people might be thinking that in what ways the internet can help them for home loans.It is because of the fact
that, internet provides a wide opportunity to deal with a number of competing lenders providing some of the best rate on
your loan. For example, it is impossible for a local lender or agent to be able to provide you with the lowest interest rate or closing costs as he is competing only in the local area. But, not so with internet,here, you are sure to get your best deal with the great number of online lenders competing to gain your selling.