2466855
Description
Flashcards by dylan_earl, updated more than 1 year ago
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Created by dylan_earl
over 9 years ago
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| Question | Answer |
| What is a mortgage? | Two parties involved in a promise from the Borrower (Mortgagor) to the Lender (mortgagee) |
| Down payments are *usually* paid in cash T/F | True |
| What is an Amortization Period | Period it takes to retire the entire mortgage loan |
| The longer the amortization, the smaller the mortgage payment. However the larger the interest T/F | True dat |
| What is a floating mortgage rate? | A rate that depends on market conditions (Variable Rate) |
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