A loan which is secured by more than one parcel of land is known as:

A loan secured by more than one parcel of land is known as a blanket mortgage. This type of mortgage is typically used in real estate development or investment scenarios where multiple properties are financed under a single loan. The advantage of a blanket mortgage is that it allows the borrower to consolidate the financing of several parcels, which can simplify the loan process and potentially provide better terms than individual loans for each parcel.

In contrast, a package mortgage involves the financing of real estate along with personal property, which is not limited to multiple parcels of land but rather includes items like furniture or appliances that are also part of the sale. A bridge loan serves as temporary financing used until a long-term loan is obtained or until an existing obligation is removed, typically when purchasing a new property before selling an old one. A balloon loan is characterized by its structure where smaller payments are made over the term of the loan, followed by one large payment at the end; it does not pertain specifically to multiple parcels but rather to the payment terms.

Understanding the distinction between these different types of loans is critical, especially for real estate professionals and borrowers considering various financing options for property purchases or developments.