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In case of home loan you have the facility to transfer your home loan to different lender if he is giving you loan at a lower interest rate.
For many people buying house with own money is not possible, home loan as it can be repaid in easy monthly installments makes it easier to buy a house.
Among all types of home loan, It has the longest repayment tenure which goes up to 30 years, so one can reduce the burden of equated monthly installments by extending the tenure.