Private mortgage insurance
A) is typically required when the down payment is less than 20 percent.
B) is required on all home mortgages.
C) is desireable low cost insurance against defective title.
D) can not be cancelled during the entire term of the mortgage.
Correct Answer:
Verified
Q57: One point on an $80,000 loan for
Q58: Additional points on a home mortgage will
A)lower
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
Q63: Federal Housing Administration (FHA)insurance protects
A)you against defective
Q64: "Conventional financing" consists of all home loans
A)made
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
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