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Which task should be included in the Client's Action Plan to aid her in her goal of purchasing a home?

A- Extend rental lease
B- Increase savings
C- Apply for new credit to increase credit score
D- Reduce debt

1 Answer

3 votes

Final answer:

To aid in the goal of purchasing a home, increasing savings and reducing debt are key tasks that should be included in the Client's Action Plan, as they prepare the financial groundwork necessary for securing a mortgage with favorable terms. The correct option is B.

Step-by-step explanation:

The tasks that should be included in the Client's Action Plan to aid her goal of purchasing a home primarily involve assessing the financial aspects of making a transition from renting to homeownership. Among the given options, B- Increase savings and D- Reduce debt are crucial steps in preparing for the purchase of a home. Increasing savings can provide a larger down payment, which can lead to better mortgage terms and reduced interest costs over time. On the other hand, reducing debt can improve the client's debt-to-income ratio, an important factor that lenders consider when evaluating a mortgage application. Therefore, tasks associated with enhancing one's financial stability and reducing liabilities are central to the action plan.

answered
User Kayhan Asghari
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