Make California Home

What Exactly Is a Home Loan?

It is an often asked question, especially to those who are new homeowners or are prospective candidates to be so. The answer can be fairly complicated, but to be as succinct as possible, a home loan is essentially the money acquired after the placing of one’s house as collateral or security in order to protect the debt. Home loans are often correlated with mortgages which are defined as a “lien” on one’s house and usually concern two entities, the lender and the borrower.