Everyone has a secret dream of making a house or setting up a real estate for him or herself and family. However, it is not always possible for people to afford the large amount of money from own savings. That is why everyone prefers to take housing loans from banks or other financial sectors.

There are different provisions for different banking sectors on housing loans. People mainly prefer to take that kind of loans which are not only affordable but cost saving for them as well. If we take USA as an example, we would find a number of different banking sectors that offer different amount of home loans to the people.

In the United States the banks allow people to get home loans for any kind of utility that is related to their homes. Let us take a look at the types of home loans.

Presently there are banks like Bank of America, CitiBank and more other banks like HSBC Bank are providing good percentage on home loans. They are providing around 2.5% on mortgage or more loans to the people for their needs. Let us take a look at a few divisions of home loans.

· Purchase loans: One can get these loans while he or she is ready to buy a readymade home or an estate.

· Improvement loan: If you have any plan to improve your present living, you can apply for this kind of loan.

· Extension loan: If you are planning for an extension of your present home or want some expansion of your household, you can apply for this loan.

· Home Conversion loan: While you already have borrowed some amount of loan from the bank to set up your present home and again planning to change your place to somewhere else, the conversion loan can help you to set both the things properly.

· Bridge loan: It is a short term loan given to the borrower when he or she wants to sell the house and buy another house. It is given till then the borrower does not find a new house to get settled.