The percentage of the total loan paid back immediately when a mortgage loan is obtained,which lowers the annual interest rate on the debt,is called
A) discount points.
B) loan terms.
C) collateral.
D) down payment.
Correct Answer:
Verified
Q50: Mortgage interest rates loosely track interest rates
Q51: Between 2000 and 2005,home prices increased an
Q52: Nearly half the funds for mortgage lending
Q53: From 2000 to 2005,housing prices increased,on average,by
Q54: Adjustable-rate mortgages generally have lower initial interest
Q56: Down payments are designed to reduce the
Q57: During the early years of a mortgage
Q58: Many institutions that make mortgage loans do
Q59: A point on a mortgage loan refers
Q60: An advantage of a graduated-payment mortgage is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents