Home Loans
Credit given to an individual by a financial institution for the purpose of purchasing a home. This kind of loan usually involves a mortgage, where the home itself is used as collateral, making the majority of home loans a form of secure credit. It also means that should the individual not meet their end of the agreement, the lending institution may seize the home.
Home loans have a great deal to do with having a good credit history, and are usually one of the largest, most important financial moves that an individual will make in his/her lifetime. The legal owner of the home is the person who has title to the property, although the title may actually carry no rights to the property other than a lien.