3. Types of residential mortgages Use the following table to determine which type of mortgage loan each definition/example best represents. Adjustable- Rate Definition/Example Mortgage Loan Type Fixed- Graduated- Rate Payment Shared- Appreciation Second Growing- Equity Balloon- Payment The type of mortgage a company might want if they need financing to build a manufacturing facility, want a low interest rate, and plan to use the profits from manufacturing at the new facility to pay the loan off with one large payment in just a few years. O O O O The type of mortgage that is given out when there is already a mortgage on a home and that typically has a higher interest rate than the initial mortgage. o O O O O O The type of mortgage that allows borrowers to make small payments at the beginning of the mortgage's life and larger payments that continue to grow over the life of the o O o o O loan. The type of mortgage home owners might want if they believe interest rates will decrease substantially over the life of the mortgage. O O 0 O