A conforming loan: Multiple Choice Exceeds the loan limits of loans that Fannie Mae and Freddie Mac can buy Meets loan limits of loans that Fannie Mae and Freddie Mac can buy Cannot be purchased by GSEs such as Fannie Moe and Freddie Mac Is another term for a fixed-rate mortgage loan You are choosing between two mortgage options for a $1,000,000 property. The first option is a 60% LTV mortgage at an interest rate of 7%. The payment on this mortgage is calculated as if it were a 30 year mortgage, but the mortgage balance is due in 10 years. This loan also charges a 1% origination fee. The second option consists of two loans combined together. The primary loan (first mortgage) is a 50% LTV loan at an interest rate of 6.5%. This loan is an Interest Only loan due in 10 years and the loan charges a 1% origination fee. The secondary loan for this option is a 10% LTV loan at an interest rate of 9%. This loan is fully amortizing and is also due in 10 years and charges a 2% origination fee. What is the payment on the first loan option? Multiple Choice $4,274,5832 $3,991.81 $1266.7577 $13.452.5295