The word “mortgage” comes from:
Italian slang for “big debt”
The Latin term for “house money"
The French word for “dead pledge" Correct Answer
A German phrase meaning “loan until death"
What is the most traditional type of mortgage loan?
A.R.M. (adjustable-rate mortgage)
Fixed-rate mortgage Correct Answer
An A.R.M. might be a good option if:
You plan on moving to a new house within a few years
You want a lower initial monthly payment
Interest rates are relatively high
All of the above Correct Answer
What is the magic number when it comes to the down payment?
20% Correct Answer
PMI stands for:
Private Mortgage Insurance Correct Answer
Pretty Many Investments
Popular Mortgage Ideas
Property Management Investigators
80% of mortgage loans come from:
The private mortgage industry Correct Answer
A mortgage broker:
Lends you the money for a loan
Works for mortgage companies
Always drives a flashy car
Is an intermediary that helps you find a loan Correct Answer