DWI CPD Test: Mortgage Masterclass

1. What should you do before signing a mortgage agreement?

Read and understand all the loan terms

Skip reviewing the fine print

Trust the lender without checking details

Make extra payments immediately

2. What is one of the best ways to get a lower mortgage interest rate?

Only apply with one lender

Take out multiple loans at once

Ignore your credit score

Make a large down payment

3. Why is it important to check your credit score before applying for a mortgage?

It allows you to skip closing costs

It increases your down payment

It helps determine your interest rate and loan approval

It guarantees a bigger loan

4. What should you consider before choosing between a 15-year and 30-year mortgage?

The number of bedrooms in the house

Your monthly budget and long-term financial goals

The color of the house

The seller’s asking price

5. How can comparing multiple mortgage lenders help you?

It increases your loan repayment time

It makes the process more complicated

It forces you to take a bigger loan

It allows you to find the best interest rates and terms