Which of the Following Is a Type of Home Loan

question 6

Multiple Choice

Which of the following is a type of home loan which requires no monthly payments from the borrower?

• A)Credit line mortgage.
• B)Lump sum mortgage.
• C)Reverse mortgage.
• D)Term certain mortgage.

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Definitions:

Privately Held Corporation

A corporation owned by private investors, its shares are not traded publicly on stock exchanges.

Corporation

A legal entity that is separate from its owners, providing limited liability protection to its shareholders and having the ability to raise capital by selling shares.

Held

Usually refers to assets or investments retained over a period, not sold or traded.

Capital Surplus

The amount by which a company's total capital exceeds the par value of its issued share capital.