Question

What is the best option for Carmina as she purchases her dream home to enjoy for many years? (5 points)

Applying for a low-interest loan


Applying for a direct subsidized loan


Applying for an ARM mortgage


Applying for a fixed rate mortgage

Answer 1

a fixed rate mortgage

bc is simply a loan in which the interest rate and monthly payment amount do not change over the life of the loan.

Answer 2

Applying for a fixed rate mortgage

Step-by-step explanation:

A mortgage is a credit facility used to finance the acquisition of properties and homes. A mortgage allows one to borrow has a huge amount of money and spreads repayments over many years.

A fixed-rate mortgage charges a fixed interest rate throughout the life of the mortgage, unlike the ARM mortgage. In the fixed-rate mortgage, the monthly repayments are predictable and constant, which makes planning easy. Since Carmina plans to stay in her dream home for many years, a fixed-rate mortgage is ideal.