The type of mortgage loan that uses both real and personal property as security is an...

The correct choice is a package mortgage, which is a specific type of loan that includes both real property, such as land and buildings, and personal property as collateral for the loan. This type of mortgage is commonly used in situations where the financing is needed for buying a home along with its contents, such as furniture, appliances, and other personal items.

In contrast, a conventional mortgage typically involves only real estate, meaning the loan is secured by the property itself without including personal belongings. Similarly, a reverse mortgage allows homeowners, typically seniors, to access their home equity without selling their home, focusing solely on the real property involved. An equity loan, also known as a home equity loan, is another form of financing that leverages the equity in real estate, but it does not include personal property as security.

Thus, a package mortgage is the only option that distinctly incorporates both types of property, making it the correct answer.