House loans are
very common. They are provided with a house or apartment as security.
The interest is often lower than for other kinds of loan, because the
credit company or bank have a good security in your home. If your home
is located at a place where it is difficult to sell a house, the bank
may not find your house as a very good security and may rise the
interest rate. Advantages
-
Low interest rate
- You can change bank or lender easy
Disadvantages
- You loose your home if you cannot pay the loan
- Not everyone qualify for a house loan
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