To determine how much home you can afford to purchase, you should not consider
A) finding a Web site that has a good mortgage calculator.
B) looking at your budget, balance sheet, and income statement.
C) money you might receive if you win a small lottery.
D) consulting a loan officer.

Question

Quizplus · Accepted Answer

Relying on potential lottery winnings is not a stable or reliable financial strategy for determining how much home you can afford. It's important to base such significant financial decisions on current and predictable income and assets, rather than speculative or chance income.

To Determine How Much Home You Can Afford to Purchase