Tell us about Home loan in detail

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Home loan is a type of loan provided by banks or financial institutions to help individuals purchase a house or property.

Home loans are long-term loans with repayment periods ranging from 10 to 30 years.
The loan amount is usually a percentage of the property's value, and the interest rate is fixed or variable.
The borrower needs to provide collateral, such as the property itself, to secure the loan.
The loan application process involves submitting documents such as income proof, property documents, and identity proof.
Home loans offer tax benefits on both the principal and interest paid.
There are different types of home loans, such as fixed-rate loans, adjustable-rate loans, and government-backed loans.
Home loans can be used to purchase a new house, construct a house, or renovate an existing house.

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