Owning a home isnt just a keystone of wealth, its what gives us and our families, stability and emotional security. If youre hesitant about buying a home because you feel that getting a home loan is a daunting task. Dont worry! Applying for a home loan, is an incredibly simple process. Home loan is a loan disbursed by a bank or financial institution (lender) to an individual specifically for buying a residential property. Here, the lender holds the title of property until the loan is paid back in full along with interest.