What do you know about Home loan

Question

Accepted Answer

Home loan is a type of loan specifically used to purchase a home or real estate property.

Home loans are typically long-term loans with lower interest rates compared to other types of loans.
Borrowers can choose between fixed-rate or adjustable-rate mortgages.
Down payments are usually required for home loans, with the amount varying based on the lender and type of loan.
Home loans can be obtained from banks, credit unions, or mortgage lenders.
Defaulting on a home loan can result in foreclosure, where the lender takes possession of the property.

Accepted Answer

The Home loan is a property loan , and the loan given to the those Customer, which he want to purchase any home or any residential property.. the bank will be provide 70-80% funding of the property value also it's depends on the customer profile or eligibility

What do you know about Home loan

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