Name three strategies homebuyers can use to reduce their income taxes.

2. Determine the additional expenses you will have to pay if your down payment is less than the required amount.

3. Who is liable for paying points and why are they used by lenders in house loans?

4. List the elements of PITI.

5. Differentiate between an adjustable-rate loan and a conventional mortgage loan.

6. Name two benefits and two drawbacks of an interest-only mortgage loan. 

Answer rating: 100% (QA)

1 Three strategies homebuyers can use to reduce their income taxes are a Mortgage Interest Deduction Homebuyers can deduct the interest paid on their mortgage from their taxable income potentially red... View the full answer