A loan is a way to borrow money. In the case of a housing loan, this typically means borrowing money from a bank or mortgage company with the intention of buying a house, as opposed to using it for other purposes like consolidating debts or paying for college. Housing loans are one of the only types of loans that allow you to make monthly payments over an extended period of time – typically 30 years. What Is A Housing Loan? A housing loan is a type of loan that is specifically used to finance the purchase of a home. Housing loans are typically issued by banks or other financial institutions,…