Jeremiah Uselton needs a loan to purchase a condo in Sarasota,Florida.Which of the following categories will this loan fall into?

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A residential mortgage loan is specifically designed for the purchase of a home or condo. Since Jeremiah Uselton needs a loan to purchase a condo in Sarasota, Florida, a residential mortgage loan would be the best choice. A home equity loan, on the other hand, is typically used by homeowners to access the equity in their homes for purposes such as debt consolidation or home renovations. Noninstallment loans and revolving lines of credit are other types of loans that are not well-suited for this purpose.

Jeremiah Uselton Needs a Loan to Purchase a Condo in Sarasota,Florida.Which