Question: Alex and Maria just purchased their first home in Paso Robles, California for $1,000,000 and were able to make a down payment of $200,000. Since the couple is concerned about rising interest rates over the next few years, the couple's best financial strategy would be:
Group of answer choices
- To transfer the house into a newly created Trust right away
- To enter into a fixed-rate mortgage
- To enter into a variable rate mortgage
- To avoid PMI penalties because of their 20% down payment