The difference between an excellent Promissory Note & a home loan The main difference between an excellent promissory mention and you may a home loan is you to definitely an excellent promissory mention ‘s the written contract which includes the details of your own mortgage, while a home loan is actually a loan that is secured of the genuine property. A promissory mention is commonly called home financing mention that is the brand new document made and you may signed within closing. Published by Rachel Christian are an author and you may researcher targeting crucial, cutting-edge subject areas encompassing funds and investments. She is an official Educator during the Private Fund that have FinCert, a division of the Institute getting Monetary Literacy, and you may a person in the Connection to have Financial Counseling & Think Studies (AFCPE). Kim Borwick are a writer and you may editor whom knowledge financial literacy and you can old-age annuities. She has comprehensive knowledge of modifying educational posts and you may monetary topics to possess . Thomas Brock, CFA, CPA, are an economic elite along with 2 decades of expertise within the opportunities, business money and you may accounting. He already manages the fresh resource operation to have a great $cuatro million super-regional insurance provider. This type of reviewers try business frontrunners and you can elite publishers exactly who on a regular basis lead to help you legitimate e-books like the Wall Path Log and New york Minutes. Our very own specialist reviewers review our content and strongly recommend change to be sure we have been maintaining our highest standards to own precision and reliability. All of our pro reviewers hold state-of-the-art level and you can experience and then have years of experience with individual money, advancing years thought and you can assets.