Hooray! You are almost done with module eight! Next, we’ll test your knowledge on Mortgages!
After completing these practice questions, you will move into the next module.
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VA mortgages are only available to residents of Virginia.CorrectIncorrect
With an adjustable-rate mortgage (ARM), the interest rate is subject to change based upon how much money you’re making.CorrectIncorrect
Short-term mortgages are for buyers who don’t plan on owning the property long-term.CorrectIncorrect
Fixed-rate and adjustable-rate mortgages both have the option to refinance.CorrectIncorrect
Closing costs can be paid by either the buyer or the seller.CorrectIncorrect