Which of the following would increase the amount that a person could afford to spend on a home?

Question

Quizplus · Accepted Answer

An increase in family income would increase the amount a person could afford to spend on a home. This would increase their overall buying power and allow for a larger loan or more expensive home.

Other choices such as an increase in interest rates, a decrease in down payment, an increase in other financial obligations, or an increase in monthly living expenses would all decrease the amount a person could afford to spend on a home.

Which of the Following Would Increase the Amount That a Person