Multiple Choice
Which of the following is true of conventional fixed-rate mortgages?
A) It has a rate of interest that changes according to fluctuations in the index to which it is tied.
B) It involves no government backing by either insurance or guarantee.
C) It has a fixed interest rate during the life of the mortgage,where the monthly payments by mortgagor increase over the term of the loan.
D) It has comparatively low fixed payments during the life of the mortgage,followed by one large final payment.
Correct Answer:
Verified
Correct Answer:
Verified
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