If one is wondering about taking a home loan in order to acquire a house or give a stylish touch to their existing one by using the money borrowed for renovating it, then one should be knowledgeable about this loan and its present situation. The Indian scenario is one, which has seen the entry of foreign locker holders apart from the nationalised ones, with the user having more choices about his decision of selecting the bank for taking the home loan. The current stage is quite a turbulent one, with the characters of inflation and scarcity of liquidity playing a grim role in the play called recession. This is a play which is being reluctantly hosted by most of the economies of the world due to not having the capability to avoid staging it. However, India has once again displayed its warrior fervour with the feature of not quitting out in adverse circumstances. Steps taken by the government and by the primary central banking regulatory body ( i.e. RBI) have managed to shield the home loan sector from disaster even when its American cousin is on the verge of being annihilated. RBI has managed to do this by reducing the rate at which banks borrow money from it. Therefore, these banks are now able to reduce the rate of interest being charged on home loans, thereby, making them more affordable. An Indian is, therefore, given the chance of availing this opportunity in a manner which has never been so easy before. The process of taking home loans is also now being made quite simple by most of the banks with many hassle friendly procedures being removed. Furthermore, with the inclusion of online banking being used for conducting most of the major banking processes, therefore, the user can also apply for an home loan without the need of having to go the bank. The sector of home loans, is, therefore, one which has seen many landmark changes in the recent era all over the world still continues to blossom in the Indian economy due to the brilliance of the Indian Financial System and the ability to be a master contingency handler being present in most of our financial thinkers.