Both mortgages and auto loans:
are riskier for lenders.
are riskier for borrowers.
require a down payment in general.
require minimum payments.
Both mortgages and auto loans
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Both mortgages and auto loans:
are riskier for lenders.
are riskier for borrowers.
require a down payment in general.
require minimum payments.
Both mortgages and auto loans require minimum payments.
Explanation: Both types of loans come with a structured repayment plan, which necessitates that borrowers make minimum payments on a regular basis to avoid default. While there are risks involved for both lenders and borrowers, the requirement for minimum payments is a defining characteristic of these loans. If you have more questions or need further assistance, feel free to ask!