Answered step by step
Verified Expert Solution
Question
1 Approved Answer
22) Which of the following is NOT a factor in determining APR on an adjustable-rate mortgage? Closing costs of the mortgage (points and other fees)
22) Which of the following is NOT a factor in determining APR on an adjustable-rate mortgage?
Closing costs of the mortgage (points and other fees)
How many years has the originator been in business
The interest rate changes over the life of the mortgage
How long the borrower stays in the house before he prepays the mortgage
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started