Unlike other types of home equity loans, home improvement loans may have: A. Lower-than-market interest rates
B. Longer repayment terms
C. No collateral requirements
Share
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Unlike other types of home equity loans, home improvement loans may have: A. Lower-than-market interest rates
B. Longer repayment terms
C. No collateral requirements
The correct answer is C. No collateral requirements.
Home improvement loans, unlike other home equity loans that typically require the home as collateral, can sometimes be unsecured, meaning they do not require a specific asset as collateral. This makes them accessible to borrowers who may not have sufficient equity in their home. However, options A and B are generally not true for home improvement loans compared to other types of home equity loans. If you have more complex questions or need further clarification, feel free to ask!