The Two Primary Advantages of a 15-Year Mortgage Over a 30-Year

question 153

Multiple Choice

The two primary advantages of a 15-year mortgage over a 30-year mortgage are

• A) lower payments and prepayment privileges.
• B) lower interest rate and lesser interest charges over the life of the loan.
• C) greater financial flexibility and no prepayment penalties.
• D) easier qualification criteria and more affordable initially.
• E) None of the above.

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Definitions:

Immigration Act

Legislation governing the conditions under which non-citizens can enter, reside in, or obtain citizenship in a particular country, often subject to frequent changes.

National Origins Act

A set of United States immigration laws enacted in the 1920s that limited the number of immigrants allowed entry into the U.S. through a national origins quota.

Equitable

Fair and impartial treatment of all individuals, especially in terms of resource distribution and opportunities.

Racialization

is the process of ascribing ethnic or racial identities to a relationship, social practice, or group that did not identify itself as such.