When considering the typical duration for home mortgages, it is important to recognize the standard time frames that are most commonly offered by financial institutions.
1. Option A: 20-30 years - This range corresponds to the traditional long-term mortgage. It allows borrowers to have lower monthly payments spread out over a longer period. These are the most common and typical mortgage durations.
2. Option B: 5-10 years - Mortgages within this shorter range are less common. They require higher monthly payments due to the shorter repayment period.
3. Option C: 10-15 years - While more common than the 5-10 year range, 10-15 year mortgages are still less typical than the longer 20-30 year mortgages. They offer a balance between shorter repayment time and slightly higher monthly payments.
4. Option D: 15-25 years - Although somewhat closer to the standard 20-30 years, it still doesn't represent the most common durations provided by lenders.
Given these considerations, the best answer to the question "A home mortgage is usually borrowed for how long?" is:
A. [tex]$20-30$[/tex] years
