Question

The type of loan that allows people to borrow money from the amount invested in their house is a _____. home equity loan financial aid mortgage home improvement loan

Answer 1

Answer: The answer is home equity loan.

The type of loan that allows people to borrow money from the amount invested in their house is a home equity loan.

Explanation:

A home equity loan refers to a type of loan that allows home owners or borrowers to use equity of their homes as collateral. The amount of the loan is determined by the home's current market value and the homeowner's mortgage balance due. It is a secured loan and offers a fixed rate.

Answer 2

The type of loan that allows people to borrow money from the amount invested in their house is a home equity loan. This is a type of loan that is used in constructing or buying houses. This loan has interests depending on the company that needs to be paid or else the house will be confiscated.