Question

what is a house loan​

Answer 1

Answer:

A mortgage loan or, simply, mortgage is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged.

When a lender offers a home loan, they charge an interest rate. Your lender will use your home as security and you only completely own the home after you repay the loan in full. If you default on the loan, the lender holds the right to take possession of your home, sell it and use the proceeds to pay off your debt.