First National Bank of Norway - Norway, MI - Phone: (906) 563-9233
Real Estate Loans fall under the category of secured loans where they are protected by an asset. In real estate loans, real estate properties are kept as a security against the loan amount that is being taken by the borrower. Real estate loans in Norway are not only applicable against residential properties, but are also used against commercial real estate properties. Many business organizations in Norway apply for business loans and keep the commercial properties as collateral.
Home loan is a type of real estate loan where the lender keeps the home as a security against the loan they lend to the borrower for financing other activities.