1. Immediate use of the home
2. Collateral that can be taken back of the loan isn't repaid
3. Often the collateral gains in value over the duration of the loan
4. The interest rate on the loan is way lower than a personal loan or a credit card.
However, (3) is a bug that's just commonly encountered (hopefully temporarily) in some countries that restrict construction way too much at the moment. One can hope.
1. Immediate use of the home 2. Collateral that can be taken back of the loan isn't repaid 3. Often the collateral gains in value over the duration of the loan 4. The interest rate on the loan is way lower than a personal loan or a credit card.