What Is the Usual Time Frame for a Fixed-Rate/fixed-Term Equity
What is the usual time frame for a fixed-rate/fixed-term equity loan?
A) 1-5 years
B) 2-7 years
C) 5-10 years
D) All of the choices are incorrect
A home equity loan for the purpose of debt consolidation is:
A) Never a good idea
B) Once in a while a good idea
C) Not always a good idea
D) Hands down,the best way to go
Which of the following are not types home equity loans?
A) Home equity line of credit (HELOC):
C) Balloon payment loans
D) All of the choices are types of home equity loans
What is the major advantage to having a home equity line of credit (HELOC)?
A) It can be used by an entire family
B) Banks give guidance on when to use a HELOC
C) The HELOC acts like a revolving charge account
D) Ease of access to student loans