Question: Briefly describe the two basic types of mortgage loans Which
Briefly describe the two basic types of mortgage loans. Which has the lowest initial rate of interest? What is negative amortization, and which type of mortgage can experience it? Discuss the advantages and disadvantages of each mortgage type.
Relevant QuestionsDifferentiate among conventional, insured, and guaranteed mortgage loans.Describe the various sources of mortgage loans. What role might a mortgage broker play in obtaining mortgage financing?Use Worksheet 5.2. Aurelia Montenegro is currently renting an apartment for $725 per month and paying $275 annually for renter’s insurance. She just found a small town-house that she can buy for $185,000. She has enough ...1. Given the information provided, use Worksheet 5.2 to evaluate and compare Sophia’s alternatives of remaining in the apartment or purchasing the condo.2. Working with a friend who is a realtor, Sophia has learned that ...What are the basic features of a home equity credit line?
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