Register
One advantage of having a home equity loan is that O it is interest free for the homeowner. O it increases the value of the person's home. the interest paid on the loan is tax deductible. the monthly mortgage
412,849 views
11 votes
11 votes
One advantage of having a home equity loan is that

O it is interest free for the homeowner.
O it increases the value of the person's home.
the interest paid on the loan is tax deductible.
the monthly mortgage loan payments are reduced.

User Shamell
by
3.5k points

1 Answer

8 votes
8 votes

Answer:

he interest paid on the loan is tax deductible.

Step-by-step explanation:

This means that the homeowner can potentially save money on their taxes by deducting the interest paid on the loan from their taxable income. This can make the loan more affordable and can help the homeowner to save money over the long term. Other advantages of having a home equity loan may include being able to borrow a large amount of money at a competitive interest rate and having the flexibility to use the funds for a variety of purposes.

User Rayan Ral
by
2.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

Other Questions

If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve
If you buy a one-year bond for $4,000 and the issuer pays you back $5,000 at the end of one year, the interest rate on the bond is
The market value of the equity of Hudgins, Inc., is $582,000. The balance sheet shows $21,000 in cash and $192,000 in debt, while the income statement has EBIT of $93,000 and a total of $137,000 in depreciation
Kylie is risk averse and has $1,000 with which to make a financial investment. She has three options. Option A is a risk-free government bond that pays 5 percent interest each year for two years. Option
From the standpoint of the issuing company, a disadvantage of using bonds as a means of long-term financing is that Group of answer choices bond interest is deductible for tax purposes. interest must be
Link Copied!