Finance
A Kentucky home equity loan (second mortgage) is typically a:
ARevolving line of credit
BFixed amount loan with fixed repayment schedule✓ Correct
CGovernment-insured loan program
DShort-term bridge loan
Explanation
A home equity loan is a fixed-amount, lump-sum loan with a set repayment schedule, secured by the home's equity. This differs from a HELOC, which is a revolving line of credit.
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