So a lot of the answers here are stating that just because you have a loan doesn’t mean you don’t own the house. And that’s true. But as a first-time homeowner, this was super confusing to me, too. I don’t own my car until I pay it off. And I don’t get the title to the car until I pay it off. But when you buy a house, you get the title deed. The mortgage loan is like a special case of an unsecured loan, insofar as the lender has no ownership stake in the property being purchased. Contrast that to a vehicle loan, where the lender is the second “owner” listed on the title until you pay it off and can apply for a title in just your name.
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