A mortgage that starts with relatively low payments that increase at regular intervals for several years until a level is reached that will fully amortize the loan over its remaining term is called:
A) a graduated payment mortgage.
B) an adjusted rate mortgage.
C) a growing equity mortgage.
D) a reverse equity mortgage.
Correct Answer:
Verified
Q9: Loan origination happens in:
A) the primary mortgage
Q10: Loan-to-value ratio is used by lenders as
Q11: In a conventional mortgage:
A) the government does
Q12: A mortgage that allows the borrower to
Q13: The Federal Housing Administration (FHA):
A) guarantees that
Q15: The Federal National Mortgage Association (Fannie Mae):
A)
Q16: What is a due on sale clause?
Q17: Name the three parties involved in a
Q18: What was the primary cause of the
Q19: What is a land contract (installment land
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