Finance
Which mortgage type is most common for Washington home purchases and has a fixed interest rate for the life of the loan?
ABalloon mortgage
BAdjustable-rate mortgage (ARM)
CConventional 30-year fixed-rate mortgage✓ Correct
DBridge loan
Explanation
The conventional 30-year fixed-rate mortgage is the most common home loan in Washington and the U.S. It offers predictable payments throughout the life of the loan at a constant interest rate.
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