Definition: Mortgage is a loan secured by real estate. It's a type of loans which are issued by bank to a borrower who uses it for buying property like house, land etc. Rent is an amount that has been charged on monthly basis from one or several tenants. For example, rent can be charged for living in a house and also charges for rent for rental property. Both mortgage and rent are financial instruments which are used by lenders to lend money to borrowers who are trying to buy real estate. In other words, Mortgage is loan secured by real estate and it's type of loans are issued by bank while Rent is an amount that has been charged on monthly basis from one or several tenants.

mortgage or rent

Definition: The word "mortgage" typically refers to a type of loan that involves paying back money in advance for a house, building, or other property. The term itself has evolved over time, but historically it referred to an obligation to repay a sum of money when certain conditions are met. In terms of the rent, this is a payment made by the landlord to the tenant, who pays it on behalf of the owner. Rent is typically due monthly or quarterly and can be for a variety of purposes including utilities, repairs to property, or upgrades to the living space. The word "mortgage" has been used in legal terms to describe any financial obligation that involves repaying money at some point in the future, whether it's for the purchase of real estate, debt repayment, or other reasons. In contrast, the term "rent" is typically more general and can refer to a variety of different types of payments made by individuals towards property ownership. In short, while both terms describe paying back money borrowed from a lender, their definitions are different in that they apply to different contexts and purposes.

mortgage or rent which is better