Which of the following is an example of a conventional mortgage?
A)an FHA mortgage
B)a buy-down
C)a fixed-rate mortgage
D)a shared-appreciation mortgage
E)a home equity loan

Question

Quizplus · Accepted Answer

A conventional mortgage is a traditional mortgage that is not insured or guaranteed by the federal government. A fixed-rate mortgage is a type of conventional mortgage where the interest rate stays the same for the entire term of the loan. FHA mortgages are government-insured loans, buy-downs involve paying extra points upfront to lower the interest rate, shared-appreciation mortgages involve sharing some of the equity with the lender, and home equity loans are a type of second mortgage.

Which of the Following Is an Example of a Conventional