BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 110

How many months will it take Todd to cover the cost of the discount
points if he takes the lower monthly payment? (Points : 1)
6
12
20
2
25
Question 16. 16. (TCO 3) An example of a conventional mortgage
would be (Points : 1)
an FHA mortgage.
a buy-down.
a home equity loan.
a shared appreciation mortgage.
a fixed-rate mortgage.
Question 17. 17. (TCO 3) When one observes negative amortization,
this means that there (Points : 1)
is a lower amount owed on the mortgage.
is a lower down payment.
is a lower escrow account.
are lower interest rates.
is a higher amount owed on the mortgage.