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A home loan is a loan that is backed by real estate or other property. The lender receives the buyer's guarantee to repay the loan within a set time period for a set fee in exchange for the cash obtained by the buyer to purchase real estate or a home. Those who want to buy or build a property are typically provided a home loan. As a guarantee for the loan, the property is mortgaged to the lender. The title or deed to the property will remain in the bank's or financial institution's possession until the loan and all associated interest have been repaid.