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What is a mortgage loan used for? A: To pay for school B: To buy a house C: To buy a car D: To pay off credit card debt
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26 votes
26 votes
What is a mortgage loan used for?

A: To pay for school
B: To buy a house
C: To buy a car
D: To pay off credit card debt

User Arati
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2 Answers

10 votes
10 votes
The correct answer is B: To buy a house.
User Gats
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3.4k points
19 votes
19 votes
B. To buy a house

A mortgage is a contract between you and a lender that grants the lender the right to seize your property in the event that you are unable to repay the loan amount plus interest. The value of an existing home may be used as collateral for a mortgage loan to help you purchase a new home.
User RevolutionTech
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