Flashcards
week C Cue Cards
Flashcards do conjunto (5)
- 1What is a mortgage?Two parties involved in a promise from the Borrower (Mortgagor) to the Lender (mortgagee)
- 2Down payments are *usually* paid in cash T/FTrue
- 3What is an Amortization PeriodPeriod it takes to retire the entire mortgage loan
- 4The longer the amortization, the smaller the mortgage payment. However the larger the interest T/FTrue dat
- 5What is a floating mortgage rate?A rate that depends on market conditions (Variable Rate)