The conversation between human and AI assistant.
Who invented the home loan and when? How has it evolved over time?
How has it evolved over time?
Home loans have evolved significantly over time. In the early days, home loans were only available to those with good credit and a substantial down payment. But now, several types of home loans are available, including fixed-rate mortgages, adjustable-rate mortgages, and government-backed loans. The lending criteria have also become more relaxed over the years, making it easier for people to finance homes.