In Addition to the Need for a Hefty Down Payment

question 12

Multiple Choice

In addition to the need for a hefty down payment, buying a home prior to WWII was challenging because

• A)there were an insufficient number of homes available.
• B)instead of 15 - 30 years to repay the loan, borrowers had only five years.
• C)mortgage interest rates were very high.
• D)banks had insufficient reserves to make mortgage loans.

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