Physics · Banking and Finance
Home Improvement Loans are generally preferred over a Personal Loan for major house renovations because the Home Improvement Loan offers:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A shorter repayment period (e.g., 1 year).
- 2No requirement for a credit history check.
- 3A lower interest rate due to the loan being secured by the existing property's mortgage.✓
- 4Guaranteed zero interest rate.
Correct answer
A lower interest rate due to the loan being secured by the existing property's mortgage.
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