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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.
Question 18. 18. (TCO 3) A _____ mortgage is basically a home equity
loan. (Points : 1)
shared appreciation
second
growing equity