Home Loan

A home loan—commonly known as a mortgage—allows individuals to finance the purchase of real estate. It is a secured loan, meaning the property acts as collateral for the borrowed amount  Mortgages typically involve long repayment terms (15–30 years) and come in various interest structures, such as fixed-rate or adjustable-rate formats, each offering different advantages and risk profiles  When choosing a home loan, factors like down payment size, creditworthiness, and loan type (e.g., conventional, FHA, VA) significantly affect terms and overall cost