When real estate is used as collateral to secure the loan,the note is a(n):

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A real estate mortgage note is a promissory note that includes a mortgage or deed of trust securing the loan with the borrower's real property. This provides the lender with a legal claim against the property in the event of default by the borrower, making it a popular choice for collateral. A balloon note is a type of loan where the borrower makes smaller payments throughout the term of the loan until the final "balloon" payment at the end, while a fixed note has a fixed interest rate throughout the life of the loan. "Property note" and "landed note" are not commonly used terms in the industry.

When Real Estate Is Used as Collateral to Secure the Loan,the