Timothy, a staff member at a university, wants to purchase a house. as he does not have sufficient funds, he is forced to take a loan. given his low credit score, it is highly unlikely that he will be able to repay the borrowed money. in this scenario, timothy should apply for a(n)

Timothy should apply for a mortgage loan.

Explanation:

A mortgage loan is used to buy real state while putting a lien on the property being mortgaged. As Timothy wants to acquire real state (a house in this case) his loan is secured on the borrower's property (the same house). A lien, in this case, would be a security interest granted over the house as property to secure the payment of Timothy's debt.