Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

When arranging a mortgage, a buyer is typically most concerned with:

The neighborhood where the property is located.
The oldest comparables in the market analysis.
Interest rates and repayment terms.
Whether the seller will accept the offer without conditions.
The style and appearance of the seller's furniture.
The proximity to local schools.

The correct answer is: Interest rates and repayment terms.

When arranging a mortgage, a buyer is typically most concerned with interest rates and repayment terms. This is because the interest rate will determine the cost of borrowing the money, while the repayment terms will dictate how long the buyer will be making payments and the total amount that will be repaid over the life of the mortgage. Therefore, understanding the interest rates and repayment terms is crucial for a buyer to make an informed decision about their mortgage. Options A, B, D, E, and F are not as critical to the mortgage process as interest rates and repayment terms. The neighborhood where the property is located, the oldest comparables in the market analysis, whether the seller will accept the offer without conditions, the style and appearance of the seller's furniture, and the proximity to local schools are all important factors to consider when purchasing a property, but they do not directly impact the terms of the mortgage.