2/28 mortgages have a below market interest rate for some initial period because
A) the lender expects to receive higher payments after the readjustment.
B) the borrower has a high credit score.
C) initial rates are subsidized by the government.
D) the lender shares in the appreciation in the market value of the home.
Correct Answer:
Verified
Q74: The "due on sale clause" requires
A)the buyer
Q75: Suppose you have a adjustable rate mortgage
Q76: A "payment cap"
A)limits interest rate increases and
Q77: Escrow accounts
A)are required on all conventional financing.
B)held
Q78: On adjustable rate loans,the Annual Percentage Rate
A)takes
Q80: A "periodic rate cap"
A)reflects current credit conditions
Q81: As a condominium owner,you get to vote
Q82: Most home sales are through a real
Q83: You must pay federal income taxes on
Q84: Those aged 55 to 64 are more
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