Is it permissible for me to take out an interest-bearing loan from the bank to purchase a house, given the absence of savings or a lender, and that the loan will be allocated for housing, knowing that the installments will be affordable?

Islam has forbidden usury (riba) and made it one of the grave sins that incur Allah's wrath and punishment. The need for housing does not permit committing this major sin, as long as it is possible to obtain housing through rental; there is no necessity when this option exists.