5. What's the primary benefit of being prequalified for a mortgage? 

A). Helps with the moving expenses 

B). Ensures that you're looking only at homes you can afford 

C). Eliminates the need for earnest money

6. which of these is a sign that you're dealing with someone engaged in unfair lending practices? 

A). They charge inappropriate high interest rates, fees, and closing costs 

B). They contact you first 

C). They discourage you from reading loan documents. 

D). They push you to apply for more than you can afford 

E. All of the above

7. Which of these loan options is strongly recommended for first-time buyers? Choose ALL that apply. 

A). Adjustable-rate 

B). Contract for deed 

C). Ballon 

D). Fixed rate 

E). Interest only

Answer rating: 100% (QA)

Answer Q5 Explanation The primary benefit to getting prequalified up to a certain amount for a loan ... View the full answer