A home loan, also known as a mortgage, is a type of loan specifically designed to help individuals or families purchase a home. It provides the necessary funds to buy a property while allowing the borrower to repay the loan over an extended period of time.

When applying for a home loan, there are several factors to consider. The lender will assess your eligibility based on criteria such as your credit history, income stability, employment status, and the value of the property you intend to purchase. The lender will also consider the loan-to-value ratio, which compares the loan amount to the appraised value of the property.