Q672
Mortgages used to purchase shopping malls and office buildings are classified as
A.
developed mortgages
B.
dwelling mortgages
C.
commercial mortgages
AnswerD.
non-commercial mortgages
Answer: Option C
Solution
Answer: Option C
Solution:
Mortgages used to purchase shopping malls and office buildings are classified as commercial mortgages. A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property.