Which of the following types of loans is typically used for purchasing homes?

Mortgage loans are specifically designed for the purpose of purchasing homes. They provide the needed funding to buyers who wish to finance a residential property over a set period, usually with a fixed or adjustable interest rate. A mortgage loan not only allows the buyer to acquire the property but also secures the loan with the property itself, meaning that if the borrower defaults, the lender has the right to take possession of the home through foreclosure.

In contrast, personal loans are generally unsecured and used for various personal expenses, like consolidating debt or financing a large purchase but are not specific to real estate. Commercial loans are meant for financing business-related property and ventures and would not be suitable for individual home purchases. Student loans, on the other hand, are specifically designed to cover education expenses and have no relation to real estate financing. Thus, mortgage loans are the appropriate choice when referring to loans utilized for home purchases.