Loan which is made available for businesses or individuals to buy land, home or other property is classified as

A. secondary loan

B. primary loan

C. mortgages

D. swapped mortgages

Answer: Option C

Solution(By Examveda Team)

Loan which is made available for businesses or individuals to buy land, home or other property is classified as mortgages. A mortgage is a loan from a bank or a financial institution that helps the borrower purchase a house. A mortgage is secured by the home itself, so if the borrower defaults on the loan, the bank can sell the home and recoup its losses.