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Housing loan is actually different from mortgage loan. It is a loan that is taken to purchase or construct a house. It may appear the same, but mortgage loan includes loan that is granted again security of a property.

It is money borrowed from a licensed money lender or a financial institution primarily a bank. This consist an adjustable or fixed interest rate and payment terms.

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7y ago

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Related Questions

Can you use your house as collateral for a loan?

Yes, you can use your house as collateral for a loan, which means that if you fail to repay the loan, the lender can take possession of your house.


How do you do a bridge loan when there is no mortgage on one house?

How do you do bridge loan when there is no mortage on one house?


Can a home equity loan on one house be transferred to a new loan for a new house?

No


Where can one find a house loan calculator?

House loan calculators can generally be found on the websites of the companies that you want to get a house loan from, for example Bank of America or Chase.


If you default on a loan in UK can they take your house?

This will likely depend upon the type of loan you took out and whether or not your house was placed as collateral on the loan.


Are there any loan companies that will give you a loan for another house if you have not been paying the mortgage on your current house?

No.


What is house loan?

Housing loan is actually different from mortgage loan. It is a loan that is taken to purchase or construct a house. It may appear the same, but mortgage loan includes loan that is granted again security of a property. It is money borrowed from a licensed money lender or a financial institution primarily a bank. This consist an adjustable or fixed interest rate and payment terms.


Can a husband let the wife take over the loan of a house without her having rights to own the house?

If the loan by the Bank than it will be on your name. Do not pay loan if someone else as name to the loan.


Do you need a loan to fix your house?

Do you require a loan to repair your home?


When do home foreclosures happen?

Home forclosures happen when a person who has taken out a loan for the purchase of a house has defaulted on this loan. The house has become the collateral for the business providing the loan.


I want to fix up a house in Altus do you'll loan for that?

HSBC Premier Mortgage will provide the loan for fixing your house.


Can you get a loan to fix up a house?

Yes, you can get a loan specifically for fixing up a house, known as a home improvement loan or a renovation loan. These loans can help cover the costs of repairs, renovations, or upgrades to a property.