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What is the best reason for homebuyers to create a budget before taking out a mortgage?

to compare the value of their home with that of their neighbors
to plan how to pay off the money they have borrowed
to set aside enough money to refinance the loan
to figure out how long they can stay in their home

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ayokenny2001

The best reason for homebuyers to create a budget before taking out a mortgage is to : Plan how to pay off the money they have borrowed.

What is a mortgage?

A mortgage is an agreement(legal) between a bank and the buyer in which the bank lends money to the buyer to purchase a house.

When a buyer takes a mortgage, the buyer agrees to pay back the money in full with an agreed interest rate, at a stipulated time.

Types of actions that can be taken with a mortgage are :

  • Purchase a home
  • Maintain a home
  • Maintain other types of real estate

Therefore, the best reason for homebuyers to create a budget before taking out a mortgage is to plan how to pay off the money they have borrowed.

Learn more about mortgage here : https://brainly.com/question/1318711

jaylac313

Answer:BBBBBBBBBB BBBBBBBBBB BBBBBBBB BBBBBBB BBBB

The best reason for homebuyers to create a budget before taking out a mortgage is to : Plan how to pay off the money they have borrowed.

What is a mortgage?

A mortgage is an agreement(legal) between a bank and the buyer in which the bank lends money to the buyer to purchase a house.

When a buyer takes a mortgage, the buyer agrees to pay back the money in full with an agreed interest rate, at a stipulated time.

Types of actions that can be taken with a mortgage are :

Purchase a home

Maintain a home

Maintain other types of real estate

Therefore, the best reason for homebuyers to create a budget before taking out a mortgage is to plan how to pay off the money they have borrowed.

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