Finance
A home equity line of credit (HELOC) in Oklahoma is:
AA fixed-rate loan for the full equity amount
BA revolving credit line secured by the equity in the homeowner's property, allowing draws up to the credit limit during the draw period✓ Correct
COnly available to commercial property owners
DGuaranteed by the Oklahoma Housing Finance Agency
Explanation
A HELOC is a revolving line of credit secured by a lien on the property. Homeowners can draw funds as needed up to the credit limit during the draw period, repay, and redraw.
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