Question

Which of the following is NOT true about a mortgage?

It involves making monthly installments.

The terms are usually less than 10 years.

The borrower might have to pay insurance if his or her down payment is too low.

Borrowers have to pay for interest, real estate taxes, and homeowner's insurance.

Answer 1

the term are usually less than 10 years

Answer 2

Step-by-step explanation:

The statement "The terms are usually less than 10 years" is NOT true about a mortgage.

A mortgage is a loan used to finance the purchase of a property, and the terms of a mortgage typically range from 15 to 30 years, although they can vary depending on the specific agreement between the borrower and the lender.