Question: 1. Identify the statement that is untrue about buydown loans: Group of answer choices a. they are often used during periods of high inflation b.

1. Identify the statement that is untrue about buydown loans: Group of answer choices

a. they are often used during periods of high inflation

b. They always lower the rate on the loan for the borrower for the entire loan term

c. Help borrowers qualify for a loan

d. They can be offered by home builders

2. In regards to incremental borrowing, all of the statements are false except for:

Group of answer choices

a. It should be less than the rate for a first mortgage

b. It should be compared to the cost of obtaining a second mortgage

c. It is used to calculate the APR for the loan

d. It is independent of loan-to-value ratio

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