Regarding adjustable rate mortgages, all of the following are true except
A) They are also called variable rate mortgages.
B) Their rate usually adjusts monthly.
C) They have an interest rate usually pegged to some other interest rate.
D) About one-fourth of U.S. mortgages are adjustable rate.
Correct Answer:
Verified
Q1: A mortgage is a loan with _
Q2: The entity that initially accepts payments on
Q3: The distinguishing characteristic of a convertible mortgage
Q4: A point is
A) 0.001%.
B) 0.01%.
C) 0.1%.
D) 1.0%
Q6: An adjustable rate mortgage described as 3/1
Q7: With a graduated payment mortgage,
A) payments decrease
Q8: With a shared appreciation mortgage,
A) the interest
Q9: A $55,000 mortgage at 7.75% over twenty
Q10: A $55,000 mortgage at 7.75% over thirty
Q11: A $55,000 mortgage at 9.75% over twenty
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