Answer the following questions:

AutoSave on CI Document1 - Word Search 18576634063 Ea o File Home Insert Di aw Design Layout References Mailings Review View Help Share Comments 1. A construction loan is an example of what type of loan? a. Assumption b. Non-recourse c. Open-end d. Subordination 2. In regards to purchase-money mortgages, what scenario is not appropriate for its use? a. The buyer cannot come up with the down payment needed to qualify for a mortgage b. The seller wants to receive the gain from the sale in installments c. Third-party mortgage financing is too expensive of unavailable d. The seller desires to artificially raise the price of the property by receiving a higher-than- market interest rate 3. Which of the following loan products is known as stepped up financing? a, b. CPM c. GPM d. ARM 4. In regards to incremental borrowing, all of the statements are false except for: a. It should be less than the rate for a first mortgage b. It should be compared to the cost of obtaining a second mortgage c. It is used to calculate the APR for the loan d. It is independent of loan-to-value ratio Page 1 of 1 160 words EX English (United States D Focus EL B 100% 6:49 PM I Type here to search 0 . ENG 10/26/2021