homeloan
nounUK /ˈhəʊm ləʊn/
US /ˈhoʊm loʊn/
Money you borrow from a bank to buy a house, which you pay back over many years.
They took out a homeloan to buy their first house.
RELATED WORDS
OTHER MEANINGS
2. A loan secured by a house you already own, often used to raise cash.
She used a homeloan to pay for her daughter's college fees.
3. The monthly payment made to repay money borrowed for a house.
Their homeloan is due on the first of every month.
4. A bank product designed for people buying or building a home.
The bank offers a special homeloan for young couples.