home loan
noun
Pronunciation: /hoʊm loʊn/
Definition
A sum of money borrowed from a financial institution to purchase residential property, typically repaid in installments over many years with interest.
Examples
The bank approved our home loan after reviewing our credit history and income.
Rising interest rates have made it more expensive for first-time buyers to take out a home loan.
She spent the morning comparing different home loan options to find the lowest monthly payment.
Synonyms of home loan
Words with a similar meaning to home loan:
Browse the full Anaversity dictionary