When obtaining a mortgage you should

Question

Quizplus · Accepted Answer

Maintaining some funds for liquidity purposes is important because unexpected bills or expenses can arise, and having some extra funds can help alleviate stress and prevent missed mortgage payments. Applying for the maximum amount you can afford (A) is risky and can lead to financial strain in the future. Letting someone else choose your mortgage type and length (B) can result in being stuck with a mortgage that may not be the best fit for your financial situation. Applying only for a mortgage amount you can pay off within 10 years (D) may limit your options and make it harder to purchase a home in a competitive housing market.

When Obtaining a Mortgage You Should