Question

  Which of the following types of loans are used by the customers to finance their houses?

A Credit Card Loans Correct Answer Incorrect Answer
B Auto loans Correct Answer Incorrect Answer
C Business Loans Correct Answer Incorrect Answer
D Mortgage Loans Correct Answer Incorrect Answer
E Land loans Correct Answer Incorrect Answer

Solution

Home loans are sanctioned against mortgaging the property in favor of the bank and they are called mortgage loans.

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