3. Which type of loan typically has the lowest intere 1. A payday Ioan 2. A credit card purchase 3. A mortgage Ioan 4. A personal loan without collateral

3. A mortgage loan<br /><br />Mortgage loans typically have the lowest interest rates compared to payday loans, credit card purchases, and unsecured personal loans. This is because they are secured by the property itself, meaning the lender can seize the home if the borrower defaults. This lower risk for the lender translates into lower interest rates for the borrower. Payday loans and unsecured personal loans carry much higher interest rates due to their higher risk profile. Credit cards also tend to have higher rates than mortgages.<br />