Key features of a housing loan include:

1. Loan Amount: This depends on the borrower’s eligibility, income, and the value of the property.
2. Interest Rates: The rates can be fixed (remain the same throughout the loan tenure) or floating (vary based on market conditions).
3. Tenure: Loan repayment typically spans 15 to 30 years, making monthly payments more manageable.
4. Down Payment: Lenders usually require the borrower to make an upfront down payment, which is a percentage of the property's price.
5. Collateral: The property purchased using the loan serves as collateral for the lender, meaning the lender can claim the property if the borrower fails to repay.
6. Eligibility: Lenders evaluate the borrower’s income, credit score, and other financial factors to determine loan approval.

Housing loans help make homeownership more affordable, allowing individuals to spread out the cost of buying a home over many years. However, it’s important to ensure that loan terms align with personal financial capabilities to avoid repayment issues.