Solution:
1) Loan amount - The sum of money that you are currently obligated to pay us under this mortgage.2) Duration of the loan- loan duration means the time frame starts when the loan is drawn down and ends when it is fully repaid.
3) Documents required- Before borrowing money, borrowers thoroughly examine the borrower's employment history and income documents.
4) Interest rate- The interest rate is the cost of borrowing and lending money, as stated in the document.
5) Mode of repayment- It specifies how long the loan must be repaid. Long-term loans can be paid off over twelve, six, or even twelve months.
6) Collateral- Collateral is an asset the borrower owns and uses as a guarantee to a lender up until the loan is repaid. Examples include land, buildings, vehicles, livestock, and bank deposits. The lender has the right to sell the asset or collateral as collateral if the borrower defaults on the loan.