Mortgages Quizzes-A home equity line of credit is:

Answer to Quiz

A home equity line of credit is:

Answer: (c)
A "home equity line of credit" is a line of credit allowing the borrower to draw down loans from time, secured by the borrower's home. Home equity loans allow a borrower to potentially borrow large sums at an attractive rate.

Next Quiz:

What is the disadvantage of adjustable rate mortgages?

(a) Higher up front points and appraisal costs
(b) Lenders actively discourage these types of mortgages
(c) The interest rate can go up after the initial low teaser rate
(d) It is tougher to qualify for such a mortgage over fixed rate mortgages

Word of the Day

Equity holders

"Equity holders" are those individuals or entities who hold portions of a firm's...

Equity holders

Newsletter