"Conventional financing" consists of all home loans
A) made through the banking system.
B) that are neither government-insured nor guaranteed.
C) that are insured by the Federal Housing Administration.
D) with fixed interest rates.
Correct Answer:
Verified
Q59: Concerning an adjustable rate loan,which of statements
Q60: The mortgage contract rate
A)takes into account all
Q61: Negative amortization results when
A)the monthly interest payment
Q62: Private mortgage insurance
A)is typically required when the
Q63: Federal Housing Administration (FHA)insurance protects
A)you against defective
Q65: Option and 2/28 mortgages
A)have contributed to the
Q66: Convertible home mortgages permit the borrower to
A)convert
Q67: The acceleration clause allows
A)you to repay a
Q68: Possible negative amortization resulting from a rise
Q69: Adjustable rate mortgages
A)impose both higher risk and
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