Elly & frank valdez are thinking about buying a new house and financing it through their bank. if they get approved, what type of loan will it most likely be?

The loan will most likely be an installment loan. This loan would allow Elly and Frank to make regular payments on the house and simultaneously give them some financially flexibility. They can make small payments or a huge payment depending on their monthly income. These payments are made monthly and can last months or several years. This loan is typical for mortgages, so it would fit the bill in this situation.

Installment Credit (APEX!)

There is no graph to go along with this