Which of the following would increase the speed of equity growth for a homebuyer?
A)making a down payment of 10 percent instead of 20 percent
B)obtaining a mortgage interest rate of 7 percent instead of 8 percent
C)obtaining a 25-year mortgage instead of a 20-year mortgage
D)making larger deposits to the escrow account
E)making smaller deposit to the escrow account

Question

Quizplus · Accepted Answer

Obtaining a lower mortgage interest rate would decrease the amount of interest paid over the life of the loan, allowing for more of the mortgage payment to go towards building equity.

Which of the Following Would Increase the Speed of Equity