Multiple Choice
Choose the most appropriate answer for each.
-a mortgage wherein the borrower pays principal, interest, taxes and insurance in the same payment
A) Amortized loan
B) Amortization tables
C) Balloon loan
D) Budget mortgage
E) Conventional loan
F) Discount point
G) Equity
H) FHA
I) Impound account
J) Loan balance table
K) Loan origination fee
L) Loan-to-value ratio
M) Maturity
N) Partially amortized loan
O) PITI payment
P) PMI
Q) Point
R) Principal
S) Term loan
T) UFMIP
Correct Answer:

Verified
Correct Answer:
Verified
Q48: What is the annual interest on $50,000
Q49: The homeowner has made regular mortgage payments
Q50: In the event of default and subsequent
Q51: For a veteran to obtain a VA
Q52: A home buyer wants to borrow $100,000.
Q54: A house sells for $102,000 and is
Q55: The type of loan whereby the borrower
Q56: The difference between the market value of
Q57: Choose the most appropriate answer for each.<br>-a
Q58: A loan progress chart is used in