A variable rate mortgage means:
A) The interest rate is not fixed
B) The interest rate is fixed for five years
C) The rate is not subject to change
D) Larger monthly payments than a fixed rate
E) None of these
Correct Answer:
Verified
Q35: Points represent:
A)2% of the amount of the
Q36: The difference between the monthly payments on
Q37: Bill's monthly payment is $1,056 per month.
Q38: Megan Mei is charged 2 points on
Q39: Graduated payments result in the borrower paying:
A)More
Q41: Match the following terms with their definitions.
-Graduated
Q42: With a mortgage of $48,000 for 15
Q43: With a mortgage of $88,000 at 11%
Q44: Match the following terms with their definitions.
-Variable
Q45: A $104,000 selling price with $24,000 down
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