Task: Class Definition Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes 'home equity line of credit'?

A. loan secured by real estate with no ability for the borrower to receive additional funds under the loan at a later date
B. loan secured by real estate with a provision that the outstanding loan amount may be increased upon mutual agreement of the lender and the borrower
C. collateralized, simple-interest loan that is repaid in monthly installments over a period of typically three to five years, for the purpose of purchasing a vehicle
D. line of credit granted to a homeowner secured by the equity value in a borrower's home or other property

Answer: line of credit granted to a homeowner secured by the equity value in a borrower's home or other property