Home Loan

A home loan is a secured loan taken from a bank or financial institution for the purpose of buying a residential property such as ready-to-move in house or apartment or one that is under construction. These loans are having varying interest rates, which are often linked to the credit score of the borrower.

This type of loan usually requires the mortgage of new house with the bank or financial institution andhave to be repaid as equated monthly instalments.

Types of Home Loan