Which type of credit typically offers payment plans of up to 30 years or more? (1 point)

Question

Responses

car loan

credit card

home mortgage

personal loan

explain which is correct

Answer 1

The correct response is home mortgage. Home mortgages typically offer payment plans of up to 30 years or more, allowing borrowers to spread out their payments over a long period of time. This type of credit is used to finance the purchase of a home.