A home loan, also known as a mortgage, is a type of loan provided by banks or financial institutions to help individuals or families purchase or construct a home. The loan amount is typically a percentage of the property's value, and the borrower is required to make a down payment. The remaining amount is financed by the lender and repaid by the borrower over a fixed term with interest. Home loans offer individuals the opportunity to own a home without paying the full purchase price upfront. Interest rates, loan tenure, and eligibility criteria vary among lenders, and the property being financed serves as collateral for the loan.