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Mortgages and Home Ownership Prompt. Demarco and Tanya have received information about three separate mortgage offers. In two or three paragraphs, describe your recommendation for the best financial choice
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21 votes
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Mortgages and Home Ownership

Prompt.

Demarco and Tanya have received information about three separate mortgage offers. In two or three paragraphs, describe your recommendation for the best financial choice in their situation. Evaluate each of the three offers, compare and contrast their effectiveness, and explain the offer that works best. As you explain your answer, support it using reasons and evidence from the calculations you made based on the information provided in this guide for Analyzing Mortgage Options.

User JustHooman
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2 Answers

10 votes
10 votes

Answer:

Option A would be the best option, as the payment would not change. Option B has a lower payment, but that payment is expected to rise and eventually be a bigger payment. Option C would require them to pay it off in 8 years, which would be too much based on their income and they would end up having to get another mortgage. Option C would be better if they wanted to live their temporarily, but Demarco and Tanya would like to live in their house permanently. This makes option A the best option because it is an affordable payment that will not change.

Step-by-step explanation:

User Zaak
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2.5k points
24 votes
24 votes

Step-by-step explanation:

thats how to buy a house step by step

Mortgages and Home Ownership Prompt. Demarco and Tanya have received information about-example-1
User Pavan Sokke Nagaraj
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2.9k points
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