The amount of mortgage a person is eligible for would be increased by
A)higher interest rates.
B)a lower down payment.
C)high debt obligations.
D)a low family income.
E)lower interest rates.

Question

Quizplus · Accepted Answer

Lower interest rates would result in lower monthly mortgage payments, and therefore increase the amount a person is eligible for. Higher interest rates would result in higher monthly mortgage payments, reducing the amount a person is eligible for. A lower down payment, high debt obligations, and low family income would all decrease the amount a person is eligible for.

The Amount of Mortgage a Person Is Eligible for Would