Question

jada has been diligently saving for a down payment on a house. she finally feels ready and applies for a mortgage. her credit score is checked and is found to be 780.
what is the most likely outcome of her mortgage application?
she was denied the mortgage.
the bank did not consider her credit score in the decision.
she was approved but at a very high interest rate.
she was approved at a low interest rate.

Explanation:

A credit score of 780 is considered excellent. Lenders typically offer favorable terms, including low interest rates, to applicants with high credit scores. Denial (first option) is unlikely with a high score. Banks do consider credit scores (second option is wrong). A very high interest rate (third option) is for low - scoring applicants, so the most likely is approval at a low interest rate.

Answer:

She was approved at a low interest rate.