Question $19$

Which statement about the balloon payment mortgage is not correct?

It is good choice for low$-$income households because the contracts require interest only payments during the interm period which ane

amortized loan monthly payment. The borrowers can always refinance at

ised to encourage the homebuyers to buy more houses than they

It offers lower interest rates, but they are risky, and are usually used

standard mortgage.

It requires fixed monthly interest payments for $3$ to $5$ years. The full payment of the mortgage principal the balloon paymenti is end of the period. $q,$

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