A housing loan is offered to an individual who wishes to buy a home in Mumbai or construct a house. The property is mortgaged to the lender as a security till the repayment of a loan. The Housing Loan is a loan taken by a borrower from the bank issued against the property/security intended to be bought on the part by the borrower giving the banker conditional ownership over the property i.e. if the borrower is failed to pay back the loan, the banker can retrieve the lent money by selling the property.