Question

One advantage of having a home equity loan is that

O it is interest free for the homeowner.
O it increases the value of the person's home.
the interest paid on the loan is tax deductible.
the monthly mortgage loan payments are reduced.

Answer 1

he interest paid on the loan is tax deductible.

Step-by-step explanation:

This means that the homeowner can potentially save money on their taxes by deducting the interest paid on the loan from their taxable income. This can make the loan more affordable and can help the homeowner to save money over the long term. Other advantages of having a home equity loan may include being able to borrow a large amount of money at a competitive interest rate and having the flexibility to use the funds for a variety of purposes.