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the smiths have been approved for a $200,000 mortgage loan. they are comparing three houses to see which purchase is most economical. all the houses are rectangular with one story. the first one is priced at $199,000 with 35 feet by 45 feet dimensions. the second one is priced at $189,000 with 40 feet by 35 feet dimensions. the third one is priced at $195,000 with 30 feet by 50 feet dimensions. which purchase is most economical when compared with the cost per square footage for each house?

Respuesta :

In terms of cost per square footage for each house, the first one is the most affordable.

What does the term "mortgage loan" mean?

Mortgages are loans gotten from banks or other financial entities to help people buy houses. The mortgage's collateral is the house itself. That means the lender can sell the home and collect its money if the borrower stops making monthly loan payments and fails.

If you don't repay the loaned money for the purchase or refinancing of a home, the lender has the right to seize your property under the terms of a mortgage, which is a contract between you and the lender.

Learn more about mortgage loan: https://brainly.com/question/28290141

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