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What is a maturity date on a loan

Naked Pictures What is a maturity date on a loan.

If you've borrowed money from a bank or other company to buy a house, then you've taken out a mortgage.

A mortgage is a loan secured by property: As long as you keep up the monthly payments, the loan is current. A mortgage is a fixed-term loan; it can run 10, 15, 20 or, most commonly, 30 years.