Home loan
Pronunciation: /ˈhoʊm ˈɫoʊn/
Home loan (noun)
- Money a bank lends you to buy a house, paid back over time with interest.
- A loan where the house is used as security, so the lender can take it if you do not repay.
Examples
- She got a home loan to buy a house.
- They apply for a home loan before choosing a property.