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How to Manage Your Finances Before Applying for a Home Loan | Part 2 - Limastech A home loan is a particular amount of money borrowed to a person for a home purchase. It could be any type or size of home including duplexes, bungalows, Storey Buildings, etc. When you are applying for a home loan, it is crucial to have the knowledge of financial management. You don’t want to be burdened with additional expenses while trying to pay back your home loan.