A mortgage occurs when an asset is pledged as collateral to secure a loan. The owner of an asset does not relinquish title, ownership, or property rights such as income derived from the asset.
An interest-bearing mortgage is one where you only pay interest for the first few years of the loan, as opposed to your payments including both principal and interest.
The Loan to Value (LTV) ratio is often used in mortgage lending to determine the amount needed to make a down payment and whether the lender will lend to the borrower.