To determine whether a home is affordable, most homebuyers focus on
A)the price of the home.
B)cost of servicing the mortgage compared to take-home pay.
C)interest rates.
D)how much the home price has changed in recent years.

Question

Quizplus · Accepted Answer

While the price of the home is important, it is not the only factor to consider when determining affordability. The cost of servicing the mortgage compared to take-home pay is a better indicator of whether a home is affordable or not, as it takes into account the individual's financial situation and ability to make mortgage payments. Interest rates and how much the home price has changed in recent years can also impact affordability, but they are not the most important factors to consider.

To Determine Whether a Home Is Affordable, Most Homebuyers Focus