A Home loan means a amount of money borrowed from bank or any financial institution to purchase a flat or house. It consists of a fixed or variable interest rate and payment plans and terms. A certain rate of interest to be paid with the EMI every month. The property papers are taken as a security by the Bank for the Home Loan. It can also be taken for construction of a house over a piece of land or ready to move-in property by mortgaging the same to the bank. The property can either be commercial or personal in nature.