You Home Loan
A Home Loan is a credit extended to a homeowner that’s secured by equity in residential real property. It is called a home equity line of credit that is open-ended and revolving. It is a second mortgage with a fixed amount of principal assuming a first mortgage is senior to it. Two features that make home loans attractive are interest payments that are tax deductible and lower rates of interest than other forms of credit available to a given borrower, such as personal loans or credit cards. This is because risk for creditors on home loan is secured by the mortgaged real property.