Finance
A West Virginia homeowner who wants to access equity in their home without selling can use a:
APurchase money mortgage
BHome equity loan or home equity line of credit (HELOC)✓ Correct
CBridge loan from a commercial bank
DUSDA rural development loan
Explanation
A home equity loan or HELOC allows homeowners to borrow against the equity in their home. The home serves as collateral.
Related West Virginia Finance Questions
- In West Virginia, an adjustable rate mortgage (ARM) with a 2/2/6 cap structure means:
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- A West Virginia seller who carries back a purchase money mortgage is acting as:
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