Choose the best scenario for refinancing.

Students were requested to answer a question at institution and to express what is most important for them to succeed. Of many replies, one that that stood out was practice. Persons who ordinarily are successful do not become successful by being born. They work hard and commitment their lives to succeeding. This is how you can obtain your goals. in the following paragraphs are one of the answer and question example that you may work with to practice and improve your practical knowledge and also give you insights that might just help you to maintain your study in school.

Question:

Choose the best scenario for refinancing. a. You have a current mortgage at 5% and have been approved for a new mortgage at 3.75%. You’ll break even on the closing costs in two years, and you don’t plan to move for at least five.
b. You intend to move in about nine months, but you have been approved for a mortgage with an interest rate two whole points lower than your current rate.

Answer:

Answer:

Correct Answer: The best scenario for refinancing is:

a. You have a current mortgage at 5% and have been approved for a new mortgage at 3.75%. You’ll break even on the closing costs in two years, and you don’t plan to move for at least five.

Explanation:

This is because, being aware that you wil

They could potentially hopefully help the student handle the question by applying the questions and answer examples. You would probably then have a discussion with your classmate and continue the school learning by studying the subject mutually.

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