When obtaining a mortgage you should
A) apply for the maximum amount you can afford, since the house will be an appreciating asset.
B) let a real estate agent or some other expert choose the type and length of mortgage you will need.
C) maintain some funds for liquidity purposes to cover unanticipated bills.
D) be very conservative and apply only for a mortgage amount you can pay off within 10 years.
Answer: C
You might also like to view...
FastBucks Inc. has offered to set up a concentration banking system that will save three days of mail float and one day of presentation float. Your receivables average $20,000 per day and the opportunity cost of funds is 6 percent. How much would you be willing to pay FastBucks annually to administer the system perpetually?
A) $4,800 B) $80,000 C) $2,400 D) $40,000
Peggy and Joan wish to form a partnership to buy and sell real estate for others. which statement is correct?
A. Peggy and John must both be actively licensed brokers B. Either Peggy or John must be actively licensed brokers C. If Peggy is an active license broker, John must be an active license broker or be registered as an unlicensed partner D. If John is in actively licensed broker, Peggy must be in actively license sales associate or broker associate.