A home loan is a type of secured loan that is borrowed to purchase or renovate a property. In return, the lender (usually a bank or financial institution) retains ownership until the loan is repaid in full. Resale properties are homes that have been owned before by someone else, and obtaining a loan for such properties may involve additional considerations compared to purchasing a new construction.

https://inrplus.in/blog/2023/06/10/is-applying-for-lap-loan-against-property-a-good-idea/