True or False QuestionCommercial banks typically offer home equity loans.True false question.TrueFalse

Answer: True

Commercial banks typically do offer home equity loans. These loans allow homeowners to leverage the equity in their homes to borrow money, often at lower interest rates compared to unsecured loans. A home equity loan is a type of second mortgage, where the homeowner uses the equity in their property as collateral for the loan. The amount that can be borrowed usually depends on the current value of the home and the amount of equity owned by the homeowner. Banks offer these loans as they are considered relatively low-risk since they are secured by real estate. Thus, it is common for commercial banks to provide such financial products to their customers.