housing loan
nounUK /ˈhaʊ.zɪŋ ləʊn/
US /ˈhaʊ.zɪŋ loʊn/
Money you borrow from a bank to buy a home.
They took out a housing loan to buy their first house.
RELATED WORDS
OTHER MEANINGS
2. A long-term loan secured by the home being purchased.
The housing loan runs for thirty years.
3. A government-backed loan that helps families afford a home.
The young couple applied for a housing loan from the housing authority.
4. A loan used to build a new house on land you already own.
They used a housing loan to construct their dream home.