Recently, 15-year mortgages have increased in popularity amongst both borrowers and lenders. Which of the following groups of borrowers would typically be the least interested in a 15-year mortgage?
Correct Answer:
(B) First-time homebuyers
Explanation:
First-time homebuyers

Question

Recently, 15-year mortgages have increased in popularity amongst both borrowers and lenders. Which of the following groups of borrowers would typically be the least interested in a 15-year mortgage?

ObjectiveMcq · Accepted Answer

First-time homebuyers

ObjectiveMcq · Answer

Mature households with minimal financial constraints

ObjectiveMcq · Answer

Homeowners who are refinancing to obtain a lower rate than is available on a comparable 30-year mortgage

ObjectiveMcq · Answer

Homeowners who are interested in selling their property within five years