what is home loan ?

Question

what is home loan ?

Accepted Answer

A home loan is a type of loan provided by financial institutions to individuals for the purpose of purchasing or refinancing a home.

Home loan is a form of financial assistance provided by banks or lenders to help individuals buy or refinance a home.
It involves borrowing a specific amount of money, which is then repaid over a set period of time with interest.
Home loans typically require collateral, such as the property being purchased, to secure the loan.
The interest rate on a home loan can be fixed or variable, depending on the terms of the loan.
Examples of home loans include mortgage loans, construction loans, and home equity loans.

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