A housing loan, also known as a mortgage, is a type of loan that allows you to borrow funds to purchase a property. The property itself serves as collateral for the loan.

Types of Housing Loans:

• Home Purchase Loan: Used to finance the purchase of a new or existing home.
• Home Improvement Loan: Used to renovate or upgrade an existing home.
• Home Construction Loan: Used to finance the construction of a new home.
• Home Equity Loan: Allows you to borrow against the equity you've built up in your home.