Josh and Camilla want to remodel the kitchen in their home. They decide to take out a home equity loan that will allow them to borrow money against the appraised value of their home. Which type of financial institution would Josh and Camilla most likely go to for this type of loan?

Question

Quizplus · Accepted Answer

In this scenario, Josh and Camilla would most likely go to a commercial bank to get a home equity loan. This type of loan allows home owners to borrow against the appraised value of their already purchased homes. Commercial banks make loans for virtually any conceivable legal purpose, from vacations to cars, from homes to college educations.

Josh and Camilla Want to Remodel the Kitchen in Their