A home loan, also called a mortgage, is money borrowed from a bank or lender to buy a house. You repay it with interest over a set period, usually 15, 20, or 30 years. Interest rates may be fixed or variable depending on your lender and loan type.
What is a home loan and how does it work?
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About the Author: Ratiranjan Singha
I’m the founder of MortgageRatesChecker, where I create mortgage and loan calculators along with practical financial guides to help users compare rates, estimate payments, and make informed borrowing decisions. Content is provided for informational and educational purposes only and should not be considered financial advice.