4. The process where a borrower obtains a new loan to pay off an existing loan. A.Loan refinancing B.Market value of a
Posted: Sun May 29, 2022 6:02 pm
4. The process where a borrower obtains a new loan to pay off an
existing loan.
A.Loan refinancing B.Market value of a loan
C. Wraparound loan D. Home equity loan
15. You borrowed $235,000 with a fixed rate,partially
amortized mortgage.The term of the mortgage is 5 years, the
amortization period is 30 years,and the interest rate is set at
9%.What is the balloon payment due at maturity?
3. You are looking to borrow $400,000 with a fixed rate,
partially amortized mortgage.The term of the mortgage is 10
years,the amortization period is 25 years,and the interest rate is
set at 9%.What is the monthly payment on the mortgage?
4. What is the payment amount for payment number 12 of a
constant amortization mortgage.The 30-year mortgage is fully
amortized and features a fixed rate of 6%.The original loan balance
was $263,000.
existing loan.
A.Loan refinancing B.Market value of a loan
C. Wraparound loan D. Home equity loan
15. You borrowed $235,000 with a fixed rate,partially
amortized mortgage.The term of the mortgage is 5 years, the
amortization period is 30 years,and the interest rate is set at
9%.What is the balloon payment due at maturity?
3. You are looking to borrow $400,000 with a fixed rate,
partially amortized mortgage.The term of the mortgage is 10
years,the amortization period is 25 years,and the interest rate is
set at 9%.What is the monthly payment on the mortgage?
4. What is the payment amount for payment number 12 of a
constant amortization mortgage.The 30-year mortgage is fully
amortized and features a fixed rate of 6%.The original loan balance
was $263,000.