Home Equity Lending

1. Which of the following loan purposes is more appropriately served by a home equity loan than by a home equity line of credit?
   
   a. Applicant wishes to add on a room to a house and plans no subsequent expenditures.
   b. Applicant will be sending a child to college.
   c. Applicant contemplates a variety of expenditures but is not sure of the amount or timing.
   d. Applicant wishes to have payment flexibility.
   

Score Assessment