Home Loan
A home loan, also known as a mortgage, is a type of loan provided by a financial institution to individuals or families to purchase a home or property. Here's a concise definition:
"A home loan is a loan provided by a lender to enable individuals or families to purchase residential property, with the property itself serving as collateral for the loan."
Ownership Without Full Payment
Acquiring property through partial payment and loan agreement."
Affordable Repayment Options
Flexible plans to manage loan payments within budget
A home loan, also known as a mortgage, allows individuals or families to acquire ownership of residential property without having to pay the full purchase price upfront. Instead, the lender provides funds to cover the purchase, and the borrower agrees to repay the loan amount over time, typically through monthly installments, while simultaneously gaining ownership rights to the property.