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What is the Difference Between a Home Loan and Mortgage Refinancing?

keywords: home loan vs. mortgage, home loan vs. refinancing

A home loan is one of the most common types of loans that are given to those who want to purchase a home.

A mortgage, on the other hand, is the borrowing of money from a lending institution in order to purchase property.

The main difference between these two types of loans is that a home loan will require you to pay back the money over time, whereas when you refinance your mortgage at, you will have to pay back all the money in one lump sum.

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