A lender is an entity, typically a bank or financial institution, that provides funds for purchasing a property. Beyond supplying money, lenders assess a borrower’s financial stability, credit history, and the property’s market value to determine the loan amount and interest rate. They set specific terms and conditions for loan repayment, including duration, interest rate, and payment schedule. Choosing the right lender is crucial as it affects the loan cost and the borrower’s long-term financial health. Borrowers should carefully consider various lenders, evaluating their reputation, interest rates, fees, and customer service to ensure a beneficial partnership in their homeownership journey.