$1.$ All else equal, the initial payment is largest for a $\_\_\_\_\_\_\_\_\_\_\_\_.$

Group of answer choices

onstant payment mortgage

constant amortization mortgage

interest$-$only loan

declining balance mortgage

$2.$The APR is generally higher than the EBC when the lender charges up$-$front fees on the loan.

Group of answer choices

True

False

$3.$Technically speaking, a mortgage is not a loan, but rather the pledge of real property as collateral for a loan.

Group of answer choices

True

False

$4.$In a$($n$),$ the amount of interest that accrues stays the same each month.

Group of answer choices

interest$-$only loan

constant payment mortgage

constant amortization mortgage

declining balance mortgage

None of the above.

$5.$The lender only has a right to foreclose on the mortgaged property when the borrower defaults on a mortgage, if the property is worth less than the amount owed, the lender has no further claim on the borrower.

Group of answer choices

True

False