The graph shows the average price of homes in the United States from 2009 to 2014.
Based on the information in the graph, what is the most reasonable prediction?
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Rising home prices in recent years means that more people will need to take out mortgages.
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The chart shows the costs associated with the purchase of a new home.
What is the best conclusion that can be drawn from the information in the chart?
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There are additional fees and costs involved in taking out a mortgage.
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Many people prefer a fixed-rate mortgage because it
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is predictable.
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Homeowners typically pay property taxes to
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help finance state and local governments.
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A borrower with bad credit is likely to be charged
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high interest rate.
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The chart shows the costs associated with the purchase of a new home.
In the chart, closing costs refers to the
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costs associated with obtaining the loan.
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What is the best reason for homebuyers to create a budget before taking out a mortgage?
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to plan how to pay off the money they have borrowed
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What best explains the relationship between a borrower's credit score and a down payment requirement?
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Someone with a high credit score may be required to make a lower down payment.
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An adjustable-rate mortgage is one that
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can change.
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The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.
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Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
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