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Linda just got approved on an ARM mortgage. What is true?
O Her taxes will be reduced.
O She has a secured loan.
O Her interest will be fixed.
O She cannot make a down payment.

Sagot :

Answer:

[tex]\fbox {She has a secured loan.}[/tex]

Explanation:

We know from basics that by a mortgage, we understand that we put our asset down as a collateral so we can take a loan and this asset will be under the lender's control until repayment.

An ARM mortgage means that the interest rate can be gradually changed based on performance benchmarks, such as a change in it every 6 months.

Hence, by this, we can understand that the loan is secure.

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