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Typically, mortgage agreements include essential details such as the loan amount, interest rate, repayment terms, and additional fees or charges. They also outline the rights and responsibilities of both the borrower and the lender, as well as the legal implications of non-compliance with the terms of the agreement.
To put simply, the deed is the legal document that proves who holds title to a property, while a mortgage is an agreement between a financial lender and borrower to repay the amount borrowed to purchase a home.