Finance
An Oklahoma homebuyer who qualifies for multiple loan programs should evaluate:
AOnly the interest rate when choosing a loan
BTotal costs over the expected holding period, including interest rate, fees, mortgage insurance, and program requirements✓ Correct
COnly the monthly payment amount
DThe number of years the loan has been offered in the market
Explanation
Borrowers should compare total costs over their expected ownership period, not just the interest rate or monthly payment. This includes origination fees, mortgage insurance costs, prepayment penalties, and any other program-specific costs.
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