Which of the following statements is true regarding home mortgages?
A) There is a penalty for prepaying a home mortgage.
B) An advantage of 15-year mortgages is that equity buildup is slower than with 30-year mortgages.
C) It is generally wise to take a longer repayment period even if you plan to pay off the loan more quickly.
D) More total interest is paid with a shorter mortgage repayment time.
Correct Answer:
Verified
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