The primary type of loan made by a savings and loan association is the long-term installment loan used for the purchase of a home.

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A savings and loan association primarily focuses on providing long-term loans to finance the purchase of homes or real estate. These loans are also known as mortgage loans and typically have a repayment period of 15 to 30 years, making them suitable for long-term investments such as buying a house.

The Primary Type of Loan Made by a Savings and Loan