Albert wants to build a new house,but he needs to borrow money to do so.Albert should obtain

Question

Quizplus · Accepted Answer

Based on the scenario provided, the best choice for Albert would be a construction loan, which is specifically designed for financing the construction of a new home. A balloon mortgage and an interest-only mortgage may offer lower initial payments but come with higher risks and costs in the long run, while a subprime mortgage is typically for borrowers with poor credit, which isn't mentioned in the scenario.

Albert Wants to Build a New House,but He Needs to Borrow