[Solved] What type of loan is taken out to purchase a home?

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What type of loan is taken out to purchase a home?

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Available options for (or Explanation) What type of loan is taken out to purchase a home? are:

…Mortgages are loans used to purchase homes, land, and other types of real estate. When you take out a mortgage, the property purchased with the loan becomes the collateral, which means that if you fail to make your loan payments, the lender can seize the property. There are several mortgage types, including fixed-rate and adjustable-rate, with a wide variety of interest rates.

The correct answer is Mortgage loan:

Answer of the What type of loan is taken out to purchase a home? is

Mortgage loan:

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Answer of What type of loan is taken out to purchase a home? was first published on insureinsurancelife.com on 2022-06-18 10:19:00

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