Which of the following types of credits would best describes home equity loans? a. closed and secured b. closed and unsecured c. open and secured d. open and unsecured please select the best answer from the choices provided a b c d
Which Of The Following Types Of Credits Would Best Describes Home Equity Loans? A. Closed And Secured B. Closed And Unsecured C. Open And Secured D. Open And Unsecured Please Select The Best Answer From The Choices Provided A B C D
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Which Of The Following Types Of Credits Would Best Describes Home Equity Loans? A. Closed And Secured B. Closed And Unsecured C. Open And Secured D. Open And Unsecured Please Select The Best Answer From The Choices Provided A B C D. Which of the following types of credits would best describes home equity loans? Home equity loans are classified as closed and secured because they are typically repaid in fixed monthly amounts over a set period and are backed by the value of the home.
Mortgages vs. Home Equity Loans What’s the Difference? from www.investopedia.com
Home equity loans can be used for various purposes, including remodeling projects, paying family medical expenses, covering educational costs, or reducing debts. Home equity loans are classified as closed and secured credit. A home equity loan is a type of loan where the borrower uses the equity of his or her home as collateral.
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Closed and secured credits pertain to a home equity loan which pertains to a lump sum amount of money which is repaid in fixed installments over a specific period. Which of the following types of credits would best describes home equity loans? Home equity loans are classified as closed and secured credit.
A Home Equity Loan Is A Type Of Loan Where The Borrower Uses The Equity Of His Or Her Home As Collateral.
【solved】click here to get an answer to your question : Which of the following types of credits would best describes home equity loans? To determine the type of credit that best describes home equity loans, we need to consider whether they are closed or open, and whether they are secured or unsecured.
Home Equity Loans Are Classified As Closed And Secured Because They Are Typically Repaid In Fixed Monthly Amounts Over A Set Period And Are Backed By The Value Of The Home.
Home equity loans can be used for various purposes, including remodeling projects, paying family medical expenses, covering educational costs, or reducing debts. Home equity loans are best described as closed and secured loans. Which of the following types of credits would best describes home equily loans?