QUESTION IMAGE
Question
which statement best describes how lenders determine borrowing conditions for a customer?
they access the customer’s credit reports.
they see how large of a down payment the customer makes.
they look into how much the customer has saved for emergencies.
they access the customer’s work history.
Lenders primarily determine borrowing conditions by assessing a customer's creditworthiness, which is largely derived from credit reports. Credit reports provide information on a customer's credit history, payment behavior, and outstanding debts, which are key factors in evaluating risk. Down payment size, emergency savings, and work history are secondary or less central factors compared to credit reports for determining borrowing conditions.
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A. They access the customer’s credit reports.