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Which statement is true of both mortgages and auto loans? They are riskier than student loans for lenders. They do not require a minimum payment. They are secured loans and generally require a down payment. They have higher interest rates than credit cards.

Sagot :

Tundexi

Mortgage and Auto-loans are both secured loans and generally require a down payment.

Let understand that Secured Loans means loans that requires collateral as a condition of borrowing.

  • Mortgage loans are secured loan because the house serves as collateral security and the lender is authorize to take back the house if the borrower defaults.

  • Auto loans are secured loans because the vehicle itself is used as a collateral and if the borrower defaults, the lender take the car.

In conclusion, both the Mortgage and Auto loans generally requires a down payment as well as continuous interval payment to gradually pay off the remaining outstanding loan balance.

Reead more on the Loans here

brainly.com/question/4146696

Smartgnome

Answer:

c. they are secured loans and generally require a down payment

Explanation:

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