human
Is there a difference between a mortgage and a loan?
assistant
Yes, there is a difference between a mortgage and a loan. A mortgage is a type of loan, but there are some distinct differences. A mortgage is generally a larger amount of money, and it is secured against the property you are buying. This means that if you fail to make payments, the lender can repossess the property. A loan, on the other hand, is a smaller amount of money and is not secured against any kind of property. The loan is paid back with interest within a certain period of time.