53. James is looking to purchase a single-family home. He needs to obtain a loan in order to complete the purchase but lacks good credit. Why may James opt for an installment sales contract with the seller rather than obtain a traditional mortgage from a lender? O An installment sales contract can be obtained from more lenders compared to a typical mortgage. • An installment sales contract will typically included a lower interest rate. O An installment sales contract is interest-free for the first 12 months. O An installment sales contract is a form a seller financing that offers much more flexibility compared to a typical mortgage.

53. James is looking to purchase a single-family home. He needs to obtain a loan in order to complete the purchase but lacks good credit. Why may James opt for an installment sales contract with the seller rather than obtain a traditional mortgage from a lender? O An installment sales contract can be obtained from more lenders compared to a typical mortgage. • An installment sales contract will typically included a lower interest rate. O An installment sales contract is interest-free for the first 12 months. O An installment sales contract is a form a seller financing that offers much more flexibility compared to a typical mortgage.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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