Question

Yvonne has a goal of buying a brand new home within a year. She's afraid that she will be unable to save the money that she needs for a down payment. Which of the following should not be part of Yvonne's plan for achieving her goal of buying a home?
a.
Delay buying the home for a few months
b.
Borrow the money for the down payment and pay it back later
c.
Adjust her budget to save more each month
d.
Take on a part-time job to earn extra income


Please select the best answer from the choices provided

A
B
C
D

Answer 1

B — Borrow the money for the down payment and pay it back later. Borrowing increases debt, can disqualify or complicate mortgage approval, and creates additional risk; the other options are sensible ways to reach the goal.